Egypt to Buy 102,000 Tons of Diesel Fuel in September

The General Authority for Supply Commodities plans to purchase 102,000 tons of diesel fuel to be delivered in September.

GASC had previously sought to buy large amounts of fuel oil for delivery in the third quarter of 2014. The authority held two tenders for the purchase on Thursday and intends to close the door for offers on 6 August.

Egypt had recently increased fuel prices in order to reduce energy subsidies in an effort to reduce the budget deficit.

The country has relied heavily on fuel aid from Gulf nations to offset local shortage since the ouster of former president Mohamed Morsy.

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