24.4 C
March 5, 2024
Egypt Bulletin

Egypt has increased the fuel prices as part of its quarterly review

Due to the global rise in oil prices, Egypt’s Fuel Automatic Pricing Committee (FAPC) raised fuel prices on Wednesday by EGP0.5 to EGP1 per litre. Diesel prices for the electricity and food industries, however, remained unchanged. According to a statement released by the Ministry of Petroleum and Mineral Resources, the FAPC raised the price of 80-octane gasoline from EGP7.5 to EGP8 (US$0.424), 92-octane gasoline from EGP8.75 to EGP9.25 (US$0.49), and 95-octane gasoline from EGP9.75 to EGP10.75 (US$0.57).

Egypt has increased the fuel prices as part of its quarterly reviewIn addition, the price of diesel and kerosine rose from EGP6.75 to EGP7.25 per litre. Every quarter, the fuel committee assesses the prices of petroleum products and modifies them in accordance with the international price of Brent crude oil. This is done in accordance with the dollar’s exchange rate with the Egyptian pound.

Related posts

OFID signs deal to co-finance road network in Bangladesh

ADNOC invests over $764 million in drilling-related services

Masdar wins bid to build $174 million solar project in Armenia

$750 million Emirates NBD bond listed on Nasdaq Dubai

Dubai real estate transactions cross AED4.1 billion in a week

Danish Government confirms official participation at Expo 2020 Dubai