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).
In 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.