The Petroleum Products Automatic Pricing Committee announced on Friday of increasing the price of all types of gasoline by 25 piasters and fixed diesel prices.
Before issuing the decision, the committee reviewed the average prices of Brent crude in the global market and the exchange rate of the US dollar against the Egyptian pound, which are the most important determinants of the cost of petroleum products in the local market.
The Automatic Pricing Committee for Petroleum Products, which is concerned with amending petroleum products depending on international prices, raised the prices of the three types of gasoline products in Egypt, starting 9 am, the Ministry of Petroleum said, in a statement Friday.
According to the new amendment, the price of octane-80 fuel is now LE7.25 per liter, 92-octane fuel is LE8.5 per liter, and 95-octane fuel is LE9.5 per liter. Diesel was fixed at LE6.75 per liter.
The Automatic Pricing Committee for Petroleum Products monitors and adjusts petroleum product prices in Egypt on a quarterly basis.