Egypt’s Fuel Automatic Pricing Committee decided to keep the current fuel prices the same for Q3 2020, which will stabilize the local markets, according to a press release.

Octane 80 will stay at EGP 6.5, octane 92 will be kept at EGP 7.75 and octane 95 will remain at 8.75 as well as diesel at 6.75. The committee’s decision came under a three-month pricing mechanism in regard to the exceptional global circumstances of COVID-19 and its impact on oil and gas operations, in addition to the fluctuations of global oil prices.

The committee reviewed the expectations of international institutions and global experts, which predicted a significant increase in Brent crude prices from July to September compared to the previous quarter.