2023-08-30 16:03:07
Wednesday 30/August/2023 – 07:01 PM
A government source revealed the reason for the delay in announcing new gasoline and diesel prices in Egypt from the third quarter of 2023, which was supposed to be issued in early July following two previous decisions, but it has been delayed so far.
The source from the Ministry of Petroleum explained to Cairo 24 that the decision of the Committee for Automatic Pricing of Petroleum Products regarding the prices of gasoline, diesel and car gas is an integrated government decision and not by the Ministry of Petroleum alone.
New petrol and diesel prices
The sources stated that the decision on gasoline and diesel prices will be announced by the Ministry of Petroleum if it is officially issued and approved by the government and the Automatic Pricing of Fuel Products Committee, following agreeing on it, whether by fixing the prices of gasoline, diesel and car gas, or raising or lowering them according to the law.
Tamer Abu Bakr, head of the Chamber of Petroleum, previously said in statements to Cairo 24 that the decision of the automatic pricing committee for Egyptian fuel products, gasoline and diesel, is linked to two parts, one of which is social and involves the extent of the citizen’s ability to bear additional burdens, and the other is economic and linked to the global oil market.
The Chairman of the Petroleum Chamber indicated that the members of the Automatic Pricing Committee, with their various experiences in the oil market, are looking at the prices of products and the global oil market during the past 3 months, to determine the fate of the new gasoline prices, whether by increasing or stabilizing during the coming period.
Last March, Dr. Medhat Youssef, former vice president of the Petroleum Authority, said in a statement to Cairo 24 that the decision of the automatic pricing committee for petroleum products takes into account the social dimension and the surrounding economic conditions in the world.
The government raised gasoline prices on March 2 and kept the price of diesel, while the price of diesel was raised on May 4, 2023 by EGP 1 and gasoline was fixed.
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