HomeInternationalEgypt hikes pump prices for gasoline, diesel in subsidy reform push

Egypt hikes pump prices for gasoline, diesel in subsidy reform push

Cairo, July 25 (IANS) Egypt raised pump prices for gasoline and diesel again on Thursday, the latest step in its economic reform program aimed at managing fuel subsidies, the Ministry of Petroleum and Mineral Resources said in a statement.

The Fuel Automatic Pricing Committee adjusted prices for the third quarter, with 80-octane gasoline rising to 12.25 Egyptian pounds (0.25 U.S. dollars) per liter from 11 pounds, 92-octane to 13.75 pounds from 12.5 pounds, and 95-octane to 15 pounds from 13.5 pounds.

Diesel prices saw the sharpest increase, climbing to 11.50 pounds per liter from 10 pounds previously. Prices for mazut, a heavy fuel oil used by industries, remained unchanged, Xinhua news agency reported.

The move follows comments by Prime Minister Mostafa Madbouly on Wednesday, who outlined the government’s plan for gradual fuel price adjustments to end fuel subsidies by December 2025.

The ministry established the Pricing Committee in 2019 to conduct quarterly reviews of domestic fuel prices, aligning them with global market fluctuations.

–IANS

as/

Go to Source

Disclaimer

The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

For any legal details or query please visit original source link given with news or click on Go to Source.

Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.

If you are not willing to accept this disclaimer then we recommend reading news post in its original language.

RELATED ARTICLES
- Advertisment -

Most Popular