Fatshimetrie
The Automatic Price Fixing Committee for Petroleum Products, responsible for reviewing and setting the selling prices of petroleum products, met recently. In order to ensure the availability of petroleum products and regulate market performance in accordance with established pricing mechanisms, and seeking to reduce the gap between the selling prices of petroleum products and their high production and import costs, the prices of gasoline and diesel were revised upwards this Friday.
Here are the new prices in effect:
Gasoline 95 Octane: 17 Egyptian pounds/liter.
Gasoline 92 Octane: 15.25 Egyptian pounds/liter.
Gasoline 80 Octane: 13.75 Egyptian pounds/liter.
Diesel: 13.50 Egyptian pounds/liter.
Kerosene: 13.50 Egyptian pounds/liter.
This price increase came in a global context where the costs of producing and importing petroleum products continue to rise, pushing the Egyptian authorities to adjust prices to align with market realities.
The repercussions of this decision on consumers and the economy in general should not be overlooked. Indeed, an increase in pump prices often has an impact on households’ purchasing power, leading to an increase in transport costs and potential inflation in other sectors. It could also influence consumer behavior, prompting them to seek more economical alternatives or reduce their fuel consumption.
It is therefore crucial for the Egyptian authorities to put in place support mechanisms to mitigate the effects of these price increases on the most vulnerable categories of the population. Targeted aid programs, targeted subsidies or price regulation policies could be considered to ensure the social and economic stability of the country.
In conclusion, the increase in gasoline and diesel prices in Egypt highlights the challenges facing governments in a complex global economic context. It is essential to balance the profitability imperatives of fuel producers and distributors with the need to protect consumers’ purchasing power. Decisions taken today will impact the future and sustainability of Egypt’s energy sector.