The Egyptian Pricing Committee for Petroleum Products announced Wednesday May 3, 2023, during its second meeting this year, an increase in the price of diesel by one pound per liter, to set the selling price in the local market at 8.25 pounds per liter, effective from 2 a.m. Thursday, May 4.
The committee maintained the prices of other gasoline types at 8.75 pounds per liter for gasoline 80 octane, 10.25 pounds per liter for gasoline 92 octane, and 11.50 pounds per liter for gasoline 95 octane, as well as the selling price of one ton of diesel for non-electricity and food industries use at 6,000 pounds.
This decision comes after the committee decided to raise gasoline prices in March 2023.
It is worth noting that the committee meets quarterly to review the pricing equation and implement the automatic pricing mechanism. The committee clarified that the adjustment came in light of the global increase in crude oil and petroleum product prices and the exchange rate of the pound against the dollar.
