Egypt increases gasoline prices by 25 piasters per liter for 2nd time in 3 months

CAIRO – 8 October 2021: Egypt’s Fuel Automatic Pricing Committee decided Friday to increase the prices of fuel in the local market by 25 piastres per liter, the Ministry of Petroleum announced.

Egypt earlier increased gasoline prices by 25 piasters per liter two times this year, the latest of which was on 23 July.

The new prices as per Friday’s hike are LE 7 for 80 octane gasoline up from LE 6.75, LE 8.25 for 92 octane gasoline up from LE 8, and LE 9.25 for 95 octane gasoline, compared to LE 9.

The Fuel Automatic Pricing Committee is formed from representatives of the finance and petroleum ministries and is assigned with reviewing gasoline prices in Egypt every three months.

The committee assesses the cost of transportation of fuel, the prices of the brent crude as well as the exchange rate of US dollar against the Egyptian pound to issue its decision to raise or decrease gasoline prices.

The latest time Egypt decreased gasoline prices was in April 2020 by 25 piasters per liter.