The Egyptian government has decided to keep the price of 95-octane gasoline at EGP 7.75 per liter during Q2 of 2019, Egypt Oil & Gas reports.
The decision came as the technical committee assigned for 95-octane gasoline pricing met on March 31. The technical committee reconsidered the pricing scheme in light of the recently announced Central Bank of Egypt (CBE) data on the Egyptian pound appreciation against the US dollar, as well as the recent global Brent prices of Q1 2019.
Egypt previously announced that it would start linking 95-octane gasoline to international prices in March 2019, a senior Egyptian official told Bloomberg. The government is further expected to announce mechanisms to float prices for other gasoline products in June 2019.