Petroleum prices likely to be maintained in first quarter of 2021

CAIRO – 3 January 2021: The Automatic Pricing Committee for Petroleum Products will announce new prices for gasoline and diesel this week, sources at the Petroleum Ministry told Youm7 Saturday.

The sources said the committee will likely maintain current prices for the first quarter of the year.

The committee meets every quarter to study the average Brent crude prices in the world market and the exchange rate of the U.S. dollar against the Egyptian pound, which are the most important determinants of the cost of petroleum products in the local market, apart from other costs determined every September in the general budget of the state as set by the Central Auditing Organization.

Current prices are LE6.25 for benzine 80, LE7.50 for benzine 92 and 8.50 for benzine 95, all per liter.