Egyptian Government to Decide on Fuel Pricing

Egyptian Government to Decide on Fuel Pricing

The Egyptian government is tasking a high-level committee to file recommendations, unbinding though, to the Cabinet about whether or not to increase fuel prices according to the new pricing indexation mechanism, said a spokesperson of the Ministry of Petroleum and Mineral Resources Hamdi Abdel Aziz to Al Hekaya TV talk show.

Egypt applied automatic price indexation mechanism on 95-octane benzene in April 2019, causing the price of 95-octane to fluctuate according to international prices and capping price changes at 10%.

Yet, the government still supports butane cylinders, in addition to the petroleum products provided to bakeries and power stations, without applying the new fuel pricing indexation mechanism to them.


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