CAIRO - 22 March 2024: The Committee for Pricing Petroleum Products in Egypt has declared the revision of gasoline and diesel prices, affirming that the action aligns with international price trends.
The decision entails a one-Egyptian pound increment in both gasoline and diesel prices.
• Octane 80 gasoline: From 10 to 11 Egyptian pounds per liter
• Octane 92 gasoline: From 11.5 to 12.5 Egyptian pounds per liter
• Octane 95 gasoline: From 12.5 to 13.5 Egyptian pounds per liter
• Diesel: From 8.25 to 10 Egyptian pounds per liter
• LPG cylinder: From 75 to 100 Egyptian pounds
According to the committee's decision, the prices of gasoline have been increased by one pound. Thus, the price per liter of octane 80 gasoline after the increase is 11 Egyptian pounds, the price per liter of octane 92 gasoline after the increase is 12.50 Egyptian pounds, and the price per liter of octane 95 gasoline after the increase is 13.5 Egyptian pounds.
The committee's decision stems from its commitment, announced since July 2019, to apply an automatic pricing mechanism to some petroleum products.
The mechanism aims to adjust the selling prices in the local market every quarter, depending on the developments in the two most influential factors in the cost of providing and selling these products in the local market, namely the global price of Brent crude oil and the exchange rate of the dollar against the Egyptian pound, in addition to other fixed burdens and costs.
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