Egypt to announce new fuel prices 2023 within few days

Egypt’s Fuel Automatic Pricing Committee will announce the new fuel prices for 2023 within a few days, taking into account that increase or reduction rate shall not exceed 10 percent.

The new gasoline prices for the year 2023 will set according to market variables, which include the international price of a barrel of Brent crude and the exchange rate of the U.S. dollar against the Egyptian pound.

The committee holds its meeting every quarter each year to adjust the selling prices of some petroleum products in the local market, up and down every three months, according to market variables.

Current gasoline prices, announced at the last meeting of the Automatic Pricing Committee last October, are as follows: