Subsidy-minded Egyptian government has increased pump prices of petroleum products for the second consecutive quarter.
The government raised fuel prices by up to 3.8%, in response to rising international oil prices. This means that motorists will now pay an extra 0.25 Egyptian Pound (EGP) per litre for 95, 92 and 80 octane gasoline during 3Q 2021.
Fuel prices have now risen 5.9-8% so far this year after the fuel pricing committee effected the first increase at the beginning of the second quarter of 2021.
Diesel and mazut prices remain unchanged.
Gasoline prices, from July 23, 2021:
• 95-octane has moved up 2.9% from EGP 8.75 to EGP 9 per litre.
• 92-octane has moved up 3.2%, from EGP 7.75 to EGP 8.
• 80-octane has moved up 3.8%, from EGP 6.50, to EGP 6.75.
Prices of mazut fuel oil for use in factories will remain at EGP 3.9k per tonne, while diesel prices are still EGP 6.75 per litre.
These prices will remain fixed until through 3Q 2021 and will be reviewed again by the fuel pricing committee at the beginning of 4Q in October.
Crude oil prices have been on a run, increasing by close to 45% in 2021, as the global economy recovers.