{"id":556044,"date":"2021-10-10T03:59:01","date_gmt":"2021-10-10T03:59:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/fuel-prices-are-up-by-as-much-as-3-7\/"},"modified":"2021-10-10T03:59:01","modified_gmt":"2021-10-10T03:59:01","slug":"fuel-prices-are-up-by-as-much-as-3-7","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/fuel-prices-are-up-by-as-much-as-3-7\/","title":{"rendered":"Fuel prices are up by as much as 3.7%"},"content":{"rendered":"<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>Fuel prices are up for the third time this year: <\/strong>The government\u2019s fuel pricing committee raised the price at the nation\u2019s pumps by EGP 0.25 on Friday in response to spiraling international costs, according to an Oil Ministry <a href=\"https:\/\/bit.ly\/3lquJHn\">statement<\/a>. As matters now stand:<\/p>\n<ul>\n<li>95-octane rose 2.7% to EGP 9.25 per liter, up from EGP 9.00;<\/li>\n<li>92-octane rose 3.1% to EGP 8.25, from EGP 8.00;<\/li>\n<li>80-octane rose 3.7% to EGP 7.00, from EGP 6.75.<\/li>\n<\/ul>\n<p><strong>The price for diesel remained unchanged at EGP 6.75 per liter<\/strong> \u201cto have a minimal impact on the prices of fuel and food,\u201d the statement noted.<\/p>\n<p><strong>This is the third price hike this year:<\/strong> Fuel prices are now up 8.8-12.0% so far this year after price rises in<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5afe47b0-964c-4fa8-b9de-c0e71d2fc357\">April<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cf297186-02db-44bd-9f47-ac1b4e8b9a52\">again in July<\/a>.<\/p>\n<p><strong>This is the last meeting of the fuel price committee this year.<\/strong> The committee, which meets at the beginning of every quarter, is expected to meet again in January.<\/p>\n<p><strong>The global energy crisis cometh: <\/strong>The Oil Ministry cited the rising price of Brent crude (the global oil benchmark) and a slightly stronger USD as a reason for the move. The statement comes as Brent hit a three-year high<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f33308aa-31d9-4ec1-ba19-1dd61244ee3f\">last week<\/a> after OPEC and its allies opted against raising output by more than they had originally agreed in June. This comes at a time when there is no clear picture on when supply will increase to meet rising global demand: OPEC+ is still keeping the spigots tight, Saudi Aramco says a natural gas shortage is pushing energy demand up, and the US Energy Department is signalling it will not tap local oil reserves.<\/p>\n<p><strong>Fuel price increases (along with food) have been among the most cited reasons for rising inflation by Capmas<\/strong>, with the month following July\u2019s fuel hikes seeing the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7ce0952-23a6-4e3a-8296-21071df079fa\">highest rate<\/a> of annual urban inflation in nine months. Inflation figures for September are expected to come out today.<\/p>\n<p><strong>OTHER ENERGY NEWS-<\/strong><\/p>\n<p><strong>But hey, Dana Gas. Don\u2019t worry, we are still paying out arrears: <\/strong>Dana Gas collections from Egypt shot up 136% y-o-y to USD 125 mn in 9M2021<strong>, <\/strong>from the USD 53 mn collected in the same period last year, the company said in <a href=\"https:\/\/ent.news\/2021\/10\/20211006-Press-release-Q3-9M-collectionsss.pdf\">a press release (pdf).<\/a> \u201cContinuing timely payment of invoices and the settlement of outstanding receivables is key to providing us with the confidence to carry on with our expansion plans in the KRI [Kurdistan Region of Iraq] and Egypt,\u201d Dana Gas CEO Patrick Allman-Ward.<\/p>\n<p><strong>ALSO- The Oil Ministry has broken ground on a new natural gas pipeline in the Western <\/strong><strong>Desert <\/strong>expected to have a capacity of 15 mn cubic feet per day, the ministry said in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/244282111075550\">statement<\/a> citing EGPC head Nabil Abdel Sadek. Abdel Sadek noted that the EGPC daily production of natgas has now reached 74k barrels of oil equivalent per day. The statement offered no further details.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fuel prices are up for the third time this year: The government\u2019s fuel pricing committee raised the price at the nation\u2019s pumps by EGP 0.25 on Friday in response to spiraling international costs, according to an Oil Ministry statement. As matters now stand: 95-octane rose 2.7% to EGP 9.25 per liter, up from EGP 9.00; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":556045,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[110,93,72,819,91,371,128,3302],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-556044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-dana-gas","tag-energy","tag-enterpriseam","tag-fuel","tag-oil-and-gas","tag-oil-ministry","tag-opec","tag-patrick-allman-ward","wpautop","entry"],"acf":{"mongo_id":"390900ee-1b5c-47ff-89a3-2a7cc122897e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/10\/99.jpg","photo_position":"above","related_issue":[556040],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Fuel prices are up by as much as 3.7% - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/fuel-prices-are-up-by-as-much-as-3-7\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fuel prices are up by as much as 3.7%\" \/>\n<meta property=\"og:description\" content=\"Fuel prices are up for the third time this year: The government\u2019s fuel pricing committee raised the price at the nation\u2019s pumps by EGP 0.25 on Friday in response to spiraling international costs, according to an Oil Ministry statement. As matters now stand: 95-octane rose 2.7% to EGP 9.25 per liter, up from EGP 9.00; [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/fuel-prices-are-up-by-as-much-as-3-7\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-10T03:59:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/99.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/fuel-prices-are-up-by-as-much-as-3-7\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/fuel-prices-are-up-by-as-much-as-3-7\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Fuel prices are up by as much as 3.7%\",\"datePublished\":\"2021-10-10T03:59:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/fuel-prices-are-up-by-as-much-as-3-7\/\"},\"wordCount\":466,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/fuel-prices-are-up-by-as-much-as-3-7\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/99.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Dana Gas\",\"energy\",\"EnterpriseAM\",\"fuel\",\"oil and gas\",\"Oil Ministry\",\"OPEC\",\"Patrick Allman-Ward\"],\"articleSection\":[\"Energy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/fuel-prices-are-up-by-as-much-as-3-7\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/fuel-prices-are-up-by-as-much-as-3-7\/\",\"name\":\"Fuel prices are up by as much as 3.7% - 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This means that motorists will now pay an extra EGP 0.25 per liter for 95,\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/222.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572812,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/09\/govt-keeps-fuel-prices-on-hold-across-the-board\/","url_meta":{"origin":556044,"position":1},"title":"Gov\u2019t keeps fuel prices on hold across the board","author":"enterpriseam admin","date":"9 July 2020","format":false,"excerpt":"The government\u2019s fuel pricing committee left the price of all fuel grades unchanged during its quarterly meeting this week, according to an cabinet statement on Wednesday. The price of 95-octane remains EGP 8.50 per liter, 92-octane is EGP 7.50 per liter, and 80-octane is EGP 6.25 per liter. Gas oil\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/57.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561869,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/were-going-to-pay-more-at-the-gas-pump-for-the-first-time-since-2019\/","url_meta":{"origin":556044,"position":2},"title":"We\u2019re going to pay more at the gas pump for the first time since 2019","author":"enterpriseam admin","date":"25 April 2021","format":false,"excerpt":"The government raised fuel prices by 3-4% over the weekend following a rise in global oil prices during the first quarter, the Oil Ministry said in a statement. The hike \u2014 the first since July 2019 \u2014 means that motorists will now pay an extra EGP 0.25 per liter for\u2026","rel":"","context":"In &quot;FUEL PRICES&quot;","block_context":{"text":"FUEL PRICES","link":"https:\/\/enterpriseam.com\/egypt\/category\/fuel-prices\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/249.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543522,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/06\/fuel-prices-rise-by-up-to-3-5\/","url_meta":{"origin":556044,"position":3},"title":"Fuel prices rise by up to 3.5%","author":"enterpriseam admin","date":"6 February 2022","format":false,"excerpt":"The government has hiked fuel prices for the fourth time in less than a year in response to rising oil prices. The fuel pricing committee decided to raise prices at the pump by another EGP 0.25 per liter for 95, 92 and 80 octane fuel at its latest meeting, the\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/63.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547844,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/17\/youre-going-to-pay-more-more-at-the-pumps-again\/","url_meta":{"origin":556044,"position":4},"title":"You\u2019re going to pay more more at the pumps, again","author":"enterpriseam admin","date":"17 July 2022","format":false,"excerpt":"The government raised the price of diesel last week for the first time in years as it looks to reduce its subsidy bill amid rising global energy prices. In its latest quarterly meeting, the fuel pricing committee increased the price to EGP 7.25 per liter from EGP 6.75, as well\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/162.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593655,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/egypt-cuts-fuel-prices-for-first-time-since-2016\/","url_meta":{"origin":556044,"position":5},"title":"Egypt cuts fuel prices for first time since 2016","author":"enterpriseam admin","date":"7 October 2019","format":false,"excerpt":"Gov\u2019t cuts fuel prices for first time since 2016: The government has revised down prices for all grades of fuel by EGP 0.25 per liter on the back of lower average crude prices and a stronger EGP, the cabinet said in a statement. The committee in charge of setting prices\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/4\/1986.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/556044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=556044"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/556044\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/556040"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/556045"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=556044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=556044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=556044"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=556044"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=556044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}