Egypt’s Fuel Automatic Pricing Committee raised on Friday prices of gasoline, diesel, butane cylinders, natural gas for cars, and diesel fuel.
The committee has said in a statement that the move is part of its commitment to apply an automatic pricing mechanism to some petroleum products.
The official gazette has revealed yesterday that Tarek el-Molla, Minister of Petroleum and Mineral Resources, decreed to increase gasoline prices as of Friday morning.
According to the ministerial decree, prices of 80-octane, 92-octane and 95-octane petrol were each raised by LE1 to LE11, LE12.5 and LE13.50 per litre, respectively.
The committee also increased the price of butane cylinder to LE100 pounds up from LE75.
The automatic pricing mechanism is aimed at adjusting selling prices of fuel products on the local market according to local and global developments affecting costs. Such factors include international price of Brent crude,the dollar exchange rate as well as other fixed costs.
