The Automatic Fuel Pricing Committee (FAPC) in Egypt decided in its quarterly meeting to fix the prices of gasoline and diesel in the local market for the first quarter of the 2021 (January - March).
The committee said in a press release on Wednesday that the prices of of gasoline 80 octane, 92 octane, and 95 octane will remain unchanged at EGP 6.25, EGP 7.50, and EGP 8.50, respectively.
In addition, diesel fuel prices also remained unchanged at EGP 6.75 per liter.
FAPC said that the decision was taken after monitoring global oil prices, exchange rates, transportation, operating and production costs.
The committee added in its report that it continues to closely follow developments in global oil prices and the prevailing exchange rate in the local market, and its commitment to applying the automatic pricing mechanism according to the established parameters, avoiding any distortions in the pricing of petroleum products in the market that may lead to a defect in the pricing system.
The committee emphasized that the primary goal of applying automatic pricing is to create a clear mechanism that provides a future vision for everyone on the direction of prices of petroleum products in the local market.
Last October, the committee decided to fix the selling price of all three types of gasoline products at EGP 6.25, EGP 7.50, and EGP 8.50, respectively.
Prices:
EGP 6.25 per liter for 80-octane
EGP 7.50 per liter for 92-octane
EGP 8.50 per liter for 95-octane
EGP 6.75 per liter for diesel.
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