Arab country raises gasoline prices

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The Egyptian Ministry of Petroleum announced that the automatic pricing committee for petroleum products raised fuel prices today, for the second time in a row since its establishment in October 2019 after completing subsidy reforms.

The price of motor gasoline increased as follows::

The price of petrol 80 becomes 6.75 pounds per liter from 6.5 pounds

The price of gasoline 92 becomes 8 pounds from 7.75 pounds

The price of gasoline 95 becomes 9 pounds from 8.75 pounds

However, the Egyptian authorities fixed the selling price of diesel at 6.75 pounds per liter, and the selling price of diesel fuel for the industrial sector was fixed at 3900 pounds per ton..

The ministry said that the automatic pricing committee for petroleum products reviewed the average prices of “Brent” crude in the global market and the exchange rate of the dollar against the pound for the period from April to June 2021, which are the most important “influencing and determining the cost of providing and selling petroleum products in the local market.”.

She added that the committee’s recommendations came “in light of the current conditions the world is going through, such as the extreme fluctuation in global prices, according to what the world sees of various events, such as Covid-19 and the reduction of (crude) production.”“.





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