Egypt raises diesel prices amid global inflationary pressures

STORY: Egypt raises diesel prices amid global inflationary pressures DATELINE: May 5, 2023 LENGTH: 00:01:01 LOCATION: Cairo CATEGORY: ENERGY/ECONOMY SHOTLIST: 1. various of fuel stations in Egypt STORYLINE: Egypt raised its diesel prices by one Egyptian pound to 8.25 pounds (27 U.S. cents) per liter while keeping gasoline prices unchanged, Egypt's petroleum ministry said in a statement early on Thursday. The decision by the country's Fuel Automatic Pricing Committee (FAPC) came into effect at 02:00 a.m. local time (0000 GMT) on Thursday. The decision was made "amid the ongoing increases in the prices of crude oil and petroleum products globally," the statement said. Prices of 80-octane, 92-octane, and 95-octane petrol remained at 8.75 pounds, 10.25 pounds, 11.5 pounds respectively, while the price for mazut that is used for non-electricity and bakery purposes remained at 6,000 pounds per ton, the statement added. According to Waleed Gaballah, an Egyptian economic expert, the FAPC decision w

Egypt raises fuel prices for multiple octanes

STORY: Egypt raises fuel prices for multiple octanes DATELINE: March 3, 2023 LENGTH: 00:01:01 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of gas station STORYLINE: Egypt's Fuel Automatic Pricing Committee (FAPC) raised fuel prices for multiple octanes by 0.75 Egyptian pound to 1 Egyptian pound per liter, while keeping the price of diesel fixed. The move came in light of the fluctuating prices of Brent crude and the exchange rate of the Egyptian pound against the dollar. The FAPC's decision is effective starting Thursday at 2:00 am Cairo Time. The FAPC also raised the price of Mazut for non-electricity and bakery uses to 6000 Egyptian pounds per tonne, up from 5000 Egyptian pounds per tonne. The FAPC, which was established in mid-2019 by the petroleum ministry, follows up and implements automatic pricing mechanisms for petroleum products on a quarterly basis. The committee convenes every three months to assess the prices of petroleum products and propose changes in line with the internationa