Egypt mulls canceling circulation of Octane 80 gasoline

CAIRO – 17 October 2021: Minister of Petroleum and Mineral Resources Tarek al-Mulla stated Sunday that his ministry mulls canceling the circulation of Octane 80.

Mulla noted in a panel discussion held by the Egyptian Petroleum Association that Octane 80 is no longer considered a good-quality fuel, and that it has been abandoned by many countries.  

Earlier this month, Spokesman of the Ministry of Petroleum Hamdy Abdel Aziz said Egypt has the lowest prices of gasoline in the region, noting that the current prices cover the costs only.

Speaking to Sada Al Balad TV channel, he reiterated on Saturday that attention has been paid to social conditions before imposing the new 25-piaster rise of gasoline prices to avoid any inflation or price rises.

Abdel Aziz explained that diesel prices have not been raised because any price rises can affect public transport fares and the costs of goods transportation.

The Ministry of Petroleum had set the price of 92 octane gasoline at LE 8.25 per liter and 95 octane gasoline at LE 9.25 per liter.

As per the decision, the new price of 80 octane gasoline is set at LE 7 per liter.