The consumption of the state sectors of petroleum products, including gasoline dropped during last March by nearly 20%, due to the spread of coronavirus and the implementation of curfew on the movement of citizens.
Official sources at the Egyptian General Petroleum Corporation (EGPC) said that there is a drop in fuel consumption rates, including diesel and gasoline, coinciding with the ban of evening traffic and the suspension of academic activity during the last period.
The sources pointed out that the rates of households gas consumption increased by about 5%, including high rates of gas cylinder consumption as a result of citizens staying for longer hours in homes.
Meantime, the fuel pricing committee reduced last Friday, fuel prices by about 25 piastres, as a result of the decline in oil prices globally, and its impact on fuel pricing in the local market after linking the internal pricing system to the external price structure.
The committee added that the rates of fuel consumption during March approached 5 million tons, while gasoline pumping rates increased by 25 million liters per day, instead of 20-22 million liters, to satisfy the market demand, and in anticipation of any future increases in consumption.
It indicated that the petroleum sector has enough strategic reserves from gasoline and diesel at the level of the Republic, especially in the governorates of Upper Egypt.
The Ministry of Petroleum is planning to achieve self-sufficiency in petroleum products during the coming period, in conjunction with the entry of a number of new fields and wells to the production stage, after it achieved self-sufficiency from natural gas.
The General Petroleum Authority aims to increase in the rate of production of petroleum products in refineries to reach 5 million tons during 2020.
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