A female employee poses with a fuel pump at a petrol station in Cairo -Mohamed Abd El Ghany- Reuters
CAIRO – 23 August 2017: State-owned Misr Petroleum Company started to increase outlets selling 95-octane due to high demands from consumers, Company Chairman, Mohamed Shaaban said.
The consumption of 95-octane rose by 400 percent after the latest fuel price hikes, introduced in late June, compared to a considerable decline in 92-octane usage, Shaaban told Egypt Today.
Misr Petroleum added 44 new outlets for 95-octane, connected through fuel pumps, bringing the total number of the company’s channels of the fuel type to 70.
The Egyptian General Petroleum Corporation (EGPC) - affiliated fuel distribution firm will establish 60 new stations in 2017, Shaaban added.
The daily gasoline supplies were set in July at 6 million liters of 80-octane, 2 million liters of 92-octane and 12 million liters of diesel.
In late June, new fuel prices were announced as the price of 80-octane gasoline soared from LE 1.60 ($0.08) to LE 3.65 ($0.20) per liter, while 92-octane increased from LE 3.50 ($0.19) to LE 5.00 ($0.28) per liter.
Price of 95-octane was raised from LE 6.25 to LE 6.60, to be completely unsubsidized by the government.
Before adopting the economic reform program in 2014, the price of 92-octane was LE 2.60, while 95-octane was LE 5.85.
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