Petroleum and Mineral Resources Ministry announced that the cabinet approved the increase in petroleum products prices as follows:
Gasoline 80: LE6.75 / Liter
Gasoline 92: LE8.00 / Liter
Gasoline 95: LE 9.00 / Liter
Diesel: LE 6.75 / Liter
Kerosene: LE 6.75 / Liter
Cooking gas cylinder: LE 65.00 / Cylinder
Commercial gas cylinder: LE 130/ Cylinder
These new prices came into effect at 9:00AM, Friday. This step comes in the framework of the government’s economic reform program and Vision 2030.
It’s worthy to note that, Egypt’s ministry of Petroleum applied petroleum products automatic pricing mechanism at the end of December 2018.
The application of the automatic pricing mechanism was part of the measures the government agreed upon with the International Monetary Fund (IMF) to implement as part of Egypt’s economic reform program.
IMF and a number of international financial institutions praised Egypt’s economic reforms, stressing: “Egypt is on the right track”.