The Fuel Automatic Pricing Committee of Egypt has announced adjustments to fuel prices for the second quarter of 2024. In a move aimed at narrowing the disparity between production costs and selling prices, the Ministry of Petroleum and Mineral Resources revealed this increase in fuel prices through an official statement.
The statement highlighted the necessity of adjusting petroleum prices in response to several factors impacting the market. These include the positive outcomes stemming from recent economic reforms, notably the exchange rate liberalization, which directly influenced the increased cost of petroleum products. Additionally, heightened transportation and shipping expenses for imported petroleum products, exacerbated by incidents in the Red Sea, have further widened the gap between production costs and selling prices to unprecedented levels.
To address this imbalance, the Ministry has initiated corrective measures, effective from Friday, March 22, 2024, as outlined below:
- 95-octane gasoline: priced at 13.50 EGP per liter.
- 92-octane gasoline: priced at 12.50 EGP per liter.
- 80-octane gasoline: priced at 11 EGP per liter.
- Diesel: priced at 10 EGP per liter.
- Car fuel gas: priced at 6.50 EGP per cubic meter.
- Butane gas: priced at 100 EGP per cylinder.
These adjustments aim to mitigate the disparity between costs and selling prices, ensuring greater stability in the petroleum market and aligning prices more closely with economic realities.
