Fuel costs soar in Egypt

The Ministry of Petroleum and Mineral Resources announced on Thursday, an increase in fuel prices, including gasoline and diesel.

The selling price for one liter of 80 octane gasoline is fixed at 12.25 piasters.

It also sets the selling price of one liter of 92 octane gasoline at 13.75 piasters, including value-added tax.

In addition, 95 octane gasoline will cost consumers 15 piasters per liter, inclusive of taxes.

Finally, the price for one liter of kerosene, inclusive of tax, is set at 11.50 piasters.

The Petroleum Products Pricing Committee is responsible for setting the prices of gasoline and diesel in Egypt through various mechanisms. The Egyptian government has been gradually reducing fuel subsidies as part of its economic reform program.

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