The Egyptian government is tasking a high-level committee to file recommendations, unbinding though, to the Cabinet about whether or not to increase fuel prices according to the new pricing indexation mechanism, said a spokesperson of the Ministry of Petroleum and Mineral Resources Hamdi Abdel Aziz to Al Hekaya TV talk show.

Egypt applied automatic price indexation mechanism on 95-octane benzene in April 2019, causing the price of 95-octane to fluctuate according to international prices and capping price changes at 10%.

Yet, the government still supports butane cylinders, in addition to the petroleum products provided to bakeries and power stations, without applying the new fuel pricing indexation mechanism to them.

Selected by SPTEC Advisory from Egypt Oil & Gas