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ع Fr

Egypt reduces fuel prices 2.8 – 5.5 per cent

5 October, 2019 - (4:27 PM)
0 0

Mariam Farouq

Egypt reduces fuel prices 2.8 – 5.5 per cent
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Yesterday saw the EgyptIan government reduce various fuel prices by some 2.8 – 5.6 per cent.

The Fuel Automatic Pricing Committee reduced the price of gasoline in the local market by 25 piasters per litre effective Friday 12am.

The new prices per litre for 80 octane gasoline are now EGP6.5; 92 octane gasoline EGP 7.75; and 95 octane gasoline EGP 8.75; amounting to 2.8 – 3.7 per cent decrease in the original prices.

Industrial-use mazot was reduced in price by EGP250 per ton, a 5.56 decrease, so that it now stands at EGP4,250.

A statement by the EgyptIan Petroleum Ministry said the decision came in light of the decrease in Brent oil prices on the international market during the interval from July to September 2019 to USD62 per barrel, as well as the drop in price of the dollar versus the EgyptIan Pound during the same period.

The Ministry stressed the step was part of its commitment to apply automatic pricing on petroleum products, which implies a quarterly price amendment in accordance with the international price of Brent crude oil and the price of the dollar against the Egyptian pound.

Watani International

5 October 2019

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Watani started as an Egyptian weekly Sunday newspaper published in Cairo. The word Watani is Arabic for “My Homeland”. The paper was founded in 1958 by the prominent Copt Antoun Sidhom (1915 – 1995), who strove for the establishment of a civil, democratic society in Egypt, where all Egyptians would enjoy full citizenship rights regardless of their religious denomination. To this day when Watani is published as a weekly paper and an online news site, the objective remains the same. Those in charge of Watani view this role as a patriotic all-Egyptian vocation. Special attention is given to shedding light on Coptic culture and tradition as authentically Egyptian, this being a topic largely disregarded or little-understood by Egypt’s media. Watani is deeply dedicated to offer its readers high quality, extensive, objective, credible and well-researched media coverage, with special focus on Coptic issues, culture, heritage, and contribution to Egyptian society.
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