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