The Minister of Petroleum reveals the date for the lifting of subsidies for fuel permanently ... Masrawy
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Monday 07 January 2019
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The Minister of Petroleum, Tarek Al-Mulla, said that it is expected to raise subsidies on fuel according to the target plan by 2020, adding that the prices of petrol 80 and 92 will not be touched or any movement until the end of the current fiscal year ending on June 30.
Al-Mulla said in a telephone interview with Amr Adib that the state subsidizes fuel for 90 billion pounds during the current fiscal year, adding that until the end of the fiscal year 30 June 2019, The automatic pricing experiment is generalized on benzene 80 and 92, pointing out that what will be applied to benzene 95 will be an experiment to be monitored, followed and evaluated, in a sense: "We do not want to make things difficult for people .. The mechanism is applied to find out the negative, Of experience. "
The Minister of Petroleum: "will not cancel the petrol 80 or 92, or the application of automatic pricing them during the current period," pointing out that a committee will be formed from the sectors of oil and the Ministry of Finance, to set standards for the automatic pricing of benzene 95 every three months, Pricing according to the price of Brent oil.
Al Mulla confirmed that benzene 95 represents only 3% of the sales of petrol stations, noting that the decision to liberalize the pricing of petroleum products is a purely Egyptian decision.