The Automatic Pricing Committee decided, in its meeting to amend the selling price of the three types of gasoline products and fix the price of diesel at EGP 6.75 per liter, starting Friday, for the January/March 2022 quarter.
The pricing committee explained that it was decided to set the price of EGP 7.25 for a liter of gasoline 80, EGP 8.50 for a liter of gasoline 92 and EGP 9.50 for a liter of gasoline 95, and to fix the price of diesel at EGP 6.75 per liter.
In October 2021, Egypt announced raising the selling prices of all three types of gasoline products, according to the decision of the committee, which is concerned with following up and implementing mechanisms for applying automatic pricing for petroleum products on a quarterly basis at its meeting held after the end of September.
It pointed out that the past months witnessed a remarkable rise in transportation and shipping costs at the global level, which caused an increase in the value of imports from abroad during the last period, all of which were factors that favored the decision to move prices during the period from January to March 2022.
It added that the expectations of the international petroleum and energy institutions indicate that global oil prices will continue to rise at levels above $85 per barrel during 2022, which means that the state budget will be difficult to bear all of these differences in global prices.
The pricing committee is responsible for following up and implementing the mechanisms for applying automatic pricing for petroleum products on a quarterly basis.
New Gasoline Prices:
Gasoline 80 at EGP 7.25
Gasoline 92 at EGP 8.50
Gasoline 95 at EGP 9.50
Diesel at EGP 6.75
Follow the latest news on Google News
