The Egyptian government announced on Thursday its decision to raise fuel prices across all types in line with global changes.
According to Egyptian media outlets, the committee for pricing petroleum products decided in an earlier meeting to increase gasoline prices by one Egyptian pound.
After the hike, the price per liter of 80-octane gasoline will be 11 Egyptian pounds, 92-octane gasoline will be priced at 12.50 Egyptian pounds per liter, and 95-octane gasoline will cost 13.5 Egyptian pounds per liter.
The committee also set an increase of 1.75 Egyptian pounds per liter for diesel, making the price per liter of diesel 10 Egyptian pounds.
Additionally, the price of a 12.5-kilogram cylinder of butane gas, from the depot to the consumer, was raised from 75 to 100 Egyptian pounds.
Since July 2019, the committee has implemented an automatic pricing mechanism for some petroleum products.
The mechanism aims to adjust selling prices in the local market every quarter, depending on changes in the two main influential factors affecting the cost of providing and selling these products locally: the global price of Brent crude oil and the exchange rate of the dollar against the Egyptian pound, in addition to other fixed burdens and costs.
