MoP Denies Rumors of Fuel Prices Increase

MoP Denies Rumors of Fuel Prices Increase

The Ministry of Petroleum and Mineral Resources (MoP) has denied the rumors circulating on social media about an increase in gasoline prices after the amendments of the share of the gasoline revenues allocated to the construction and maintenance of public roads.

The Ministry confirmed that the selling prices to consumers are the same and the amendment has no effect on the consumer gasoline prices. In addition, it highlighted that these amendments to make the increase in  gasoline distributed between the General Authority for Roads and Bridges, which will have 67%, and the Ministry of Local Development by 33%. It should be noted that Egypt’s Fuel Automatic Pricing Committee is preparing to convene to determine the selling prices of petroleum products for Q1 2021.


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