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Wednesday, 8 January 2020

Gov’t keeps fuel prices unchanged through March

Gov’t leaves fuel prices unchanged through March: The government’s fuel pricing committee has decided to maintain the current prices for all grades of fuel until the end of March, according to a statement (pdf). This means that prices will remain at EGP 8.75 per liter of 95-octane, EGP 7.75 per liter of 92-octane, and EGP 6.5 per liter of 80-octane. Mazot fuel oil for use in factories will still go for EGP 4,250 per ton. The committee noted the rise in the price of Brent crude in international markets from October to December as a reason for maintaining the price, despite the appreciation of the EGP. The decision came in line with expectations. The new pricing mechanism, which allows local fuel prices to fluctuate ±10% in tandem with global prices, took hold earlier this year.

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