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Early today, Friday, the Egyptian Official Gazette published a decision by the Petroleum Ministry to increase domestic fuel prices from 9 a.m. Friday morning (07:00 GMT).
The ruling said the price of 80-octane gasoline rose to seven pounds per liter ($ 0.45), 92-octane gasoline to 8.25 pounds per liter, and gasoline 95 octane at 9.25 pounds per liter. The increase was 0.25 pounds in each type.
The Fuel Automatic Pricing Committee reviews prices every three months.
Last July, the committee decided to also increase the prices of the three types of gasoline by 0.25 pounds, citing the sharp swings in global oil prices and the consequences of the Corona virus pandemic and the reduction in gasoline. world oil production.
The committee also increased prices in April for the first time since its formation in October 2019, after completing the subsidy reforms.
Egypt, a net importer of oil, decided to increase fuel prices in July 2019, when it finished phasing out subsidies on petroleum products as part of an IMF-backed reform program.
According to the Official Journal, diesel prices will continue to run for the rest of the sectors at 1,500 EGP per tonne for delivery from consumers to food industries as determined by the Ministry of Trade and Industry, and 2,500 EGP per tonne for the delivery of consumers to electricity and power generation companies whose output is sold by companies affiliated to the Ministry of Electricity and Renewable Energies.
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