Global Courant 2023-05-04 13:27:47
The Egyptian Petroleum Products Automatic Pricing Committee at its Wednesday meeting, it recommended fixing the different fuel prices on the local market from Thursday morning, except for diesel fuel.
The committee monitors and implements involuntary pricing for petroleum products on a quarterly basis.
The sales price of Octane products of all three types has been fixed, while diesel prices have been increased.
Due to the increase in international prices for crude oil and petroleum products and the exchange rate of the pound against the US dollar, the commission increased the price of diesel by one pound per liter to LE 8.25 per liter, from Thursday 1 May 4 .
The selling price of Octane products of all three types is determined as follows: LE 8.75 per liter Octane 80, LE 10.25 per liter Octane 92 and LE 11.5 per liter Octane 95.
The commission also set the price of Mazut, supplied to the electricity and food industries, at LE 6,000 per tonne.
The Egyptian Petroleum Products Automatic Pricing Committee holds its meeting on a quarterly basis, every three months.
Gasoline and diesel prices are determined based on market variables, including the international price of a barrel of Brent crude oil and the exchange rate of the US dollar against the Egyptian pound.
