Egypt keeps domestic gasoline prices unchanged

  • Date: 08-Oct-2020
  • Source: Ahram
  • Sector:Oil & Gas
  • Country:Egypt
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Egypt keeps domestic gasoline prices unchanged

Egypt's Fuel Automatic Pricing Committee decided on Wednesday to keep fuel prices nationwide unchanged till the end of December, leaving the price of 95-octane fuel at EGP 8.50 per litre, 92-octane fuel at EGP 7.50 per litre, and 80-octane fuel at EGP 6.25 per litre, the petroleum ministry said in a statement.

The committee also decided to fix the price of industrial-use mazut at EGP 3,900 per tonne, the statement noted.

Egypt has started implementing a quarterly price index mechanism on all petroleum products since July 2019, exempting gas stoves, the electricity sector, and bakeries from the mechanism. 

The mechanism of automatic pricing involves amending the prices of petroleum products quarterly, as it should not increase or decrease by more than 10 percent, in accordance with the international