Misr Petroleum’s CEO, Mohamed Shaaban, stated that the company is increasing fuel and diesel pumping to its 1288 petrol stations by more than 25% of petroleum derivatives to cover growing demand, reported Al Mal News.
During the last week of August, many filling stations experienced long queues, as vehicles lined up at fuel and diesel pumps. To remedy the situation, Misr Petroleum increased the company’s daily supply to petrol stations by 21% for diesel to reach 16m liters, 25% for petrol 80 octane to reach 6m liters, and 21% for petrol 92 octane to reach 2.3 liters.
Shaaban confirmed that the market is currently witnessing unusual increase in fuel demand due to a possible boost in selling prices for petroleum derivatives once the government starts applying the new value added tax (VAT).
In related news, early August, an official at the ministry of petroleum stated that the ministry has spotted 10% increase in local usage of fossil fuel across all the governorates and the Egyptian General Petroleum Corporation (EGPC) would continue providing the market with 1.1m tubes of butane gas, 18,000 tons of gasoline, and 36,500 tons of diesel fuel per day.