Egypt’s Fuel Automatic Pricing Committee decided to leave the current fuel prices for Q4 2020, according to a statement.
That means that Q4 prices will remain as follows: Octane 80 at EGP 6.25, octane 92 at EGP 7.5, octane 95 at 8.5, and diesel at 6.75. In addition, the sale price of mazut for non-electricity and bakeries was fixed at EGP 3,900 per ton. The committee noted that the prices were not reduced in Q3 to meet the expected increase in prices during Q4.
This decision was driven by the value of the Egyptian pound against the US dollar which is held at EGP 15.7 for the US dollar.