The automatic pricing committee for petroleum products in Egypt, concerned with reviewing and setting prices for selling some petroleum products on a quarterly basis at its meeting today, Thursday, decided to fix the selling price of gasoline products of all three types in the local market.
According to the committee’s decision, the selling prices of all three types of gasoline products were kept in the local market, at the level of 6.5 pounds per liter for petrol 80 and 7.75 pounds per liter for gasoline 92 and 8.75 pounds per liter for gasoline 95.
The committee also decided to keep the price of selling diesel at a level of 6.75 pounds per liter and fix the selling price of diesel tons for non-electrical uses and bakeries at 4250 pounds per ton, in light of the constant cost of selling and making those petroleum products available in the local market, due to the high price of Brent barrels in the global market. During the period from last October to December, compared to the previous quarter by only 1.7%, which was offset by an increase in the value of the Egyptian pound against the dollar, according to what was announced by the Central Bank of Egypt during the same period by about 2%.
It is mentioned that the committee’s work rules require changing the price by increasing or decreasing by no more than 10% or fixing it every three months according to developments in oil and currency prices.