The Egyptian Petroleum Products Automatic Pricing Committee during its Wednesday meeting recommended it fix the different prices of fuel in the local market, except for the diesel fuel, starting Thursday morning.
The committee follows up and implements the involuntary pricing for petroleum products on a quarterly basis.
The selling price of Octane products of all three types has been fixed while the diesel prices have been raised.
Due to the increase in international prices for crude oil and petroleum products and the exchange rate of the pound against the US dollar, the committee raised the price of diesel by one pound per liter to be LE8.25 per liter, as of Thursday, May 4.
The selling price of Octane products of all three types has been fixed as follows: LE 8.75 per liter of Octane 80, LE10.25 per liter of Octane 92, and LE 11.5 per liter of Octane 95.
The committee also fixed the price of Mazut supplied to electricity and food industries at LE6,000 per ton.
The Egyptian Petroleum Products Automatic Pricing Committee holds its meeting on a quarterly basis, every three months.
The prices of gasoline and diesel fuel are set according to market variables, which include the international price of a barrel of Brent crude and the exchange rate of the US dollar against the Egyptian pound.