Oil Egypt accountACCOUNT King Tut

Egypt to Implement Gasoline Price Mechanism in April

Source: Reuters 1/7/2019, Location: Egypt

Share |
Egypt will implement an automatic price indexation mechanism on 95 octane gasoline starting in April which will limit price changes to 10 percent, Petroleum Minister Tarek El Molla said.

“This does not mean an increase in price during the second quarter of this year,” he said. “The price may fall or rise or stabilise at its current rate.”

Egypt is pushing ahead with tough economic reforms as part of a three-year $12 billion IMF loan deal signed in 2016.

The reforms, aimed at attracting investors who fled during the 2011 uprising, have included new taxes, deep cuts to energy subsidies and a currency devaluation, putting the budgets of tens of millions of Egyptians under strain.

In June, Egypt raised gasoline prices by up to 50 percent under the IMF programme.

Egypt >>  11/12/2019 - SDX Energy Plc (SDX) is pleased to announce the commencement of production from its operated South Disouq concession (SDX: 55% working interest) in Eg...
Egypt >>  11/10/2019 - Qatar Petroleum is pleased to announce the successful start-up of the Egyptian Refining Company (ERC) Refinery project located in Mostorod, north of t...

Egypt >>  11/5/2019 - The exploration wells, Baltim Southwest-1 and Baltim Southwest-2, in the Nile Delta region have been placed on production with a rate of around 190 mi...
Egypt >>  11/3/2019 - A deal that would transfer control of a natural gas pipeline between Israel and Egypt is expected to be closed in the next few days, the companies sai...

Egypt >>  10/30/2019 - President Abdel Fattah El Sisi issued Law No. 136 of 2019 allowing the Minister of Petroleum and Mineral Resources in contracting with the Egyptian Ge...
Egypt >>  10/21/2019 - As a part of its ongoing drive to be among regionally and globally ranked Oil and Gas companies, Dragon Oil Ltd. - the fully owned exploration and pro...

Related Categories: Accounting, Statistics  Asset Portfolio Management  Economics/Financial Analysis  General  Investment Services  Risk Management 

Related Articles: Asset Portfolio Management  Economics/Financial Analysis  General  Investment Services 

More News

Oil & Gas Companies in Egypt >>

Related Links

Oil Egypt E-Marketplace - Subscription Packages - Benefits

Copyright © Universal Solutions S.A.E. All rights reserved. Privacy Policy. - Career Opportunities - Feedback - Contact Us