Fuel prices in Egypt rise by 75 piasters, LE 1 per liter

CAIRO – 1 March 2023: Fuel prices in Egypt witnessed on Wednesday an increase ranging from 75 piasters to LE 1 per liter in the local markets, as per a decision issued by the Fuel Automatic Pricing Committee, the Ministry of Petroleum said in a statement.

 The new prices are LE 8.75 for 80 octane gasoline up from LE 8; LE 10.25 for 92 octane gasoline up from LE 9.25; and LE 11.50 for 95 octane gasoline, up from LE 10.75.

The price of diesel fuel has not changed, and remans at LE 7.25.

Meanwhile, the price of a ton of diesel for industries reached LE 6,000/ton. However, the prices of diesel supplied to the food and electricity industries remained unchanged.

Also, the gas fuel for cars has increased to reach LE 4.50/meter.

The decision will come into force starting Thursday at 2 am at petrol stations nationwide.

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 the US dollar against the Egyptian pound to issue its decision to raise or decrease gasoline prices.

Globally, crude oil prices skyrocketed due to the ongoing Russian-Ukrainian crisis. As a result, the prices of fuel and petroleum products have been affected in all countries of the world.