09:19 AM
Saturday 11 April 2020
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Books – Ahmed El-Sayed:
Gas stations started, since eight o’clock this morning, Saturday, to implement the government’s decision to reduce gasoline prices by 25 piasters, while fixing the prices of other petroleum products.
The Committee for the Automatic Pricing of Petroleum Products, in a statement issued yesterday evening Friday, and Masrawy obtained a copy of it, said that the new prices will be as follows:
Gasoline 95: 8.50 pounds per liter
Gasoline 92: 7.50 pounds per liter
Gasoline 80: 6.25 pounds per liter
It was also decided to amend the diesel price of the industry to 3900 pounds per ton.
The statement stated that the Committee for the automatic pricing of petroleum products decided to set aside part of the savings achieved from the decrease in production costs after the descent of oil prices to meet the expected rise in cost during the coming period, as well as facing the increasing burdens of the consequences of the Corona crisis, in light of the unprecedented exceptional circumstances that pass It has global oil markets, as well as global and local economic conditions as a result of the emerging Corona virus crisis, and with the expectation that the sharp decline in world oil prices will not continue.
The committee indicated that it met and reviewed the global crude prices and exchange rates averages for the period from January 1 to the end of March 2020 compared to the period from October 1 to the end of December 2019.
The Committee stated that the price equation and the declared criteria for the work of the Committee require that prices be adjusted up and down, with a maximum limit of only 10%, to protect consumers and the state budget alike.
Also read:
Why did the government reduce gasoline prices by only 25 piasters, despite the sharp drop in oil?
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