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Home MIDDLE EAST Egypt gasoline prices raised by 3.6 percent following oil surge

Egypt gasoline prices raised by 3.6 percent following oil surge

RIYADH: Gasoline prices in Egypt have been raised by 3.6 percent effective today due to a global increase in the price of crude oil, the country’s official gazette reported.

The prices of 80-octane, 92-octane and 95-octane petrol were all raised by 25 piasters, to 7 Egyptian pounds ($0.45) per liter, 8.25 EGP/liter and 9.25 EGP/liter, respectively, effective from 0900 local time (0700 GMT).

Diesel prices remained unchanged, the paper said.

Egypt last raised gasoline prices in July when it also added 25 piasters to a liter of fuel, following a similar increase in April.

Egypt’s Automatic Pricing Committee for Petroleum Products meets every three months in line with the Egyptian government’s plan to gradually stop subsidizing fuel products within the framework of a reform program supported by the International Monetary Fund.

Prices have remained stable over the past year after dropping in April 2020 and October 2019.

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