Difference between revisions of "Fuel Prices Egypt"
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{{Fuel Price Factsheet | {{Fuel Price Factsheet | ||
|Fuel Price Country=Egypt | |Fuel Price Country=Egypt | ||
| + | |Fuel Pricing Policies=Prices are changed per decree from the Minister of Petroleum, Prime Minister or by law. Last price change took place in May 2008 in the context of a budget amendment. | ||
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| + | Fiscal spending on petroleum products subsidies reached in the financial year 2008/2009 62,7 billion LE (approx. $11 billion). | ||
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| + | Fuel prices are uniform in the country, controlled by government, and frozen for years at a time. The official price of LPG has not changed since 1991, and is among the lowest in the world. Subsidies for liquid fuels and natural gas in fiscal 2007/08 (July–June) were estimated to amount to 7.1% of GDP, diesel accounting for half. The budget for fiscal 2012/13 cut fuel subsidy allocation to LE70 billion (US$11.6 billion) from LE95.5 billion (US$16 billion) in the 2011/12 budget. In Sep 2012, the new petroleum minister gave the details of the pricing structure to reduce the fuel subsidy burden, marking the first time the details were made public, although most of the proposals had been under discussion for several years. About 12 million households would be eligible to receive two 13.5-kg cylinders of butane a month at LE5 (US$0.82). Households connected to the natural gas grid would not be eligible. Canisters of butane would be available for sale ex-coupon at LE30 (US$5) each, still half the market price at the time of the announcement. A coupon system would be introduced for diesel, enabling certain users, including farmers and taxi-drivers, to purchase specified quantities at LE1.10 (US$0.18)/liter, while the remainder of consumers would be charged the full price of LE4.85 (US$0.80)/liter. In Nov 2012, government eliminated the subsidy for 95 RON gasoline and raised the price from LE2.75 (US$0.45) to LE5.85 (US$0.96).(Source: Kojima, Masami. (2013, forthcoming). “Petroleum product pricing and complementary policies:Experience of 65 developing countries since 2009.” Washington DC: World Bank.) | ||
|Fuel Currency=EGP | |Fuel Currency=EGP | ||
|Fuel Price Exchange Rate=5.72 | |Fuel Price Exchange Rate=5.72 | ||
|Fuel Price Exchange Rate Date=2010/11/17 | |Fuel Price Exchange Rate Date=2010/11/17 | ||
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|Fuel Price Composition Annotation=No information available. | |Fuel Price Composition Annotation=No information available. | ||
| − | |Fuel Pricing | + | |Fuel Matrix Pricing Mechanism=1 |
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|Fuel Matrix Price Level=1 | |Fuel Matrix Price Level=1 | ||
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|Fuel Matrix Annotation=Prices and price modifying decrees/laws of petroleum products to be found online on the webpage of the Ministry of Petroleum. | |Fuel Matrix Annotation=Prices and price modifying decrees/laws of petroleum products to be found online on the webpage of the Ministry of Petroleum. | ||
|Fuel Transparency Price Composition=1 | |Fuel Transparency Price Composition=1 | ||
Revision as of 13:54, 15 February 2013
Part of: GIZ International Fuel Price database
Also see: Egypt Energy Situation
Fuel Pricing Policies
| Local Currency: | EGP |
| Exchange Rate: | 5.72
|
| Last Update: |
Prices are changed per decree from the Minister of Petroleum, Prime Minister or by law. Last price change took place in May 2008 in the context of a budget amendment.
Fiscal spending on petroleum products subsidies reached in the financial year 2008/2009 62,7 billion LE (approx. $11 billion).
Fuel prices are uniform in the country, controlled by government, and frozen for years at a time. The official price of LPG has not changed since 1991, and is among the lowest in the world. Subsidies for liquid fuels and natural gas in fiscal 2007/08 (July–June) were estimated to amount to 7.1% of GDP, diesel accounting for half. The budget for fiscal 2012/13 cut fuel subsidy allocation to LE70 billion (US$11.6 billion) from LE95.5 billion (US$16 billion) in the 2011/12 budget. In Sep 2012, the new petroleum minister gave the details of the pricing structure to reduce the fuel subsidy burden, marking the first time the details were made public, although most of the proposals had been under discussion for several years. About 12 million households would be eligible to receive two 13.5-kg cylinders of butane a month at LE5 (US$0.82). Households connected to the natural gas grid would not be eligible. Canisters of butane would be available for sale ex-coupon at LE30 (US$5) each, still half the market price at the time of the announcement. A coupon system would be introduced for diesel, enabling certain users, including farmers and taxi-drivers, to purchase specified quantities at LE1.10 (US$0.18)/liter, while the remainder of consumers would be charged the full price of LE4.85 (US$0.80)/liter. In Nov 2012, government eliminated the subsidy for 95 RON gasoline and raised the price from LE2.75 (US$0.45) to LE5.85 (US$0.96).(Source: Kojima, Masami. (2013, forthcoming). “Petroleum product pricing and complementary policies:Experience of 65 developing countries since 2009.” Washington DC: World Bank.)
Fuel Prices and Trends
| Gasoline 95 Octane | Diesel | |
|---|---|---|
| in USD* |
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| in Local Currency |
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* benchmark lines: green=US price; grey=price in Spain; red=price of Crude Oil
Fuel Price Composition
Price composition.
No information available.
At a Glance
| Regulation-Price-Matrix |
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Prices and price modifying decrees/laws of petroleum products to be found online on the webpage of the Ministry of Petroleum.
Sources to the Public
| Type of Information | Web-Link / Source |
|---|---|
| Pricing Mechanism | http://www.petroleum.gov.eg/ar/Laws/PricingLaws/Pages/default.aspx |
| Pump prices and margins | http://www.petroleum.gov.eg/en/Pages/default.aspx |
| Pump prices and margins | http://www.petroleum.gov.eg/ar/Laws/PricingLaws/Pages/default.aspx |
Contact
Please find more information on GIZ International Fuel Price Database and http://www.giz.de/fuelprices
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