{"id":593655,"date":"2019-10-07T04:00:22","date_gmt":"2019-10-07T04:00:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/egypt-cuts-fuel-prices-for-first-time-since-2016\/"},"modified":"2019-10-07T04:00:22","modified_gmt":"2019-10-07T04:00:22","slug":"egypt-cuts-fuel-prices-for-first-time-since-2016","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/egypt-cuts-fuel-prices-for-first-time-since-2016\/","title":{"rendered":"Egypt cuts fuel prices for first time since 2016"},"content":{"rendered":"<p><b>Gov\u2019t cuts fuel prices for first time since 2016:<\/b> 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, <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1369511196560575\">the cabinet said in a statement<\/a>. The committee in charge of setting prices under <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/08\/govt-to-implement-fuel-pricing-mechanism-on-95-octane-gasoline-in-2q2019\/\">the automatic fuel pricing mechanism<\/a> lowered the price of 95-octane fuel to EGP 8.75 from EGP 9 per liter, 92-octane to EGP 7.75 from EGP 8.00 per liter, and 80-octane to EGP 6.5 from 6.75 per liter. Mazut fuel oil for use in factories was, meanwhile, lowered by EGP 250 to EGP 4,250. The rates took effect at midnight on 4 October, and will last through 4Q2019. The committee will next convene at the end of December to decide on 1Q2020 rates.<\/p>\n<p><b>Decision beats expert expectations: <\/b>Analysts <a href=\"https:\/\/www.masrawy.com\/news\/news_economy\/details\/2019\/9\/30\/1643771\/%D8%BA%D8%AF%D8%A7-%D8%A8%D8%AF%D8%A1-%D8%AA%D8%B7%D8%A8%D9%8A%D9%82-%D8%A2%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D8%AA%D8%B3%D8%B9%D9%8A%D8%B1-%D8%A7%D9%84%D8%AA%D9%84%D9%82%D8%A7%D8%A6%D9%8A-%D9%84%D9%84%D9%88%D9%82%D9%88%D8%AF-%D9%88%D8%AA%D9%88%D9%82%D8%B9%D8%A7%D8%AA-%D8%A8%D8%AA%D8%AB%D8%A8%D9%8A%D8%AA-%D8%A7%D9%84%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1#sectionListing\">had expected<\/a> the government to leave fuel prices unchanged for 4Q2019, citing a strong EGP and the expectation for relatively stable global oil prices. Crude prices averaged USD 62 per barrel last quarter, below the USD 67 mark used in the state\u2019s FY 2019-2020 budget. The USD\/EGP rate also saw an average of 16.60. This is the first time fuel prices have been cut since Egypt began phasing out fuel subsidies in 2016. The automatic fuel price mechanism, which came into effect in April, allows the government to decide on fuel prices every quarter based on global oil prices and the USD exchange rate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 under the automatic fuel pricing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":593656,"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":[8572],"tags":[93,72,91,100,127,190,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-593655","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-energy","tag-enterpriseam","tag-oil-and-gas","tag-policy","tag-politics","tag-social-welfare","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"106a925a-48af-40fc-85f2-703f0748c41f","is_powered_by":true,"section_story_id":"8dffa5bf-ae6d-40fb-a10d-931b9772d5f8","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/4\/1986.jpg","photo_position":"above","related_issue":[593646],"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>Egypt cuts fuel prices for first time since 2016 - 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\/2019\/10\/07\/egypt-cuts-fuel-prices-for-first-time-since-2016\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt cuts fuel prices for first time since 2016\" \/>\n<meta property=\"og:description\" content=\"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 under the automatic fuel pricing [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/egypt-cuts-fuel-prices-for-first-time-since-2016\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-07T04:00:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/4\/1986.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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/egypt-cuts-fuel-prices-for-first-time-since-2016\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/egypt-cuts-fuel-prices-for-first-time-since-2016\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt cuts fuel prices for first time since 2016\",\"datePublished\":\"2019-10-07T04:00:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/egypt-cuts-fuel-prices-for-first-time-since-2016\/\"},\"wordCount\":238,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/egypt-cuts-fuel-prices-for-first-time-since-2016\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/4\/1986.jpg?fit=%2C&ssl=1\",\"keywords\":[\"energy\",\"EnterpriseAM\",\"oil and gas\",\"policy\",\"politics\",\"social welfare\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/egypt-cuts-fuel-prices-for-first-time-since-2016\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/egypt-cuts-fuel-prices-for-first-time-since-2016\/\",\"name\":\"Egypt cuts fuel prices for first time since 2016 - 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The price of 95-octane is now EGP 8.50 per liter, 92-octane is EGP\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\/4\/100.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566955,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/govt-keeps-fuel-prices-unchanged-through-march\/","url_meta":{"origin":593655,"position":1},"title":"Gov\u2019t keeps fuel prices unchanged through March","author":"enterpriseam admin","date":"8 January 2020","format":false,"excerpt":"Gov\u2019t leaves fuel prices unchanged through March: The government\u2019s fuelpricing committee has decided to maintain the current prices for all grades of fuel until the end of March, according to a statement (pdf). This means that prices will remain at EGP 8.75 per liter of 95-octane, EGP 7.75 per liter\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\/internal\/536550.png?resize=350%2C200&ssl=1","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":593655,"position":2},"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":593655,"position":3},"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":563794,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/fuel-prices-hiked-by-up-to-3-8\/","url_meta":{"origin":593655,"position":4},"title":"Fuel prices hiked by up to 3.8%","author":"enterpriseam admin","date":"25 July 2021","format":false,"excerpt":"Fuel prices hiked for second consecutive quarter: The government raised fuel prices by up to 3.8% over the weekend in response to rising international oil prices, the Oil Ministry said in a statement on Friday. 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":575279,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/11\/fuel-prices-to-remain-unchanged-till-end-of-2020\/","url_meta":{"origin":593655,"position":5},"title":"Fuel prices to remain unchanged till end of 2020","author":"enterpriseam admin","date":"11 October 2020","format":false,"excerpt":"The government\u2019s fuel pricing committee decided to leave fuel prices unchanged for the remainder of 2020, according to a cabinet statement. The decision, made at the committee\u2019s final quarterly meeting of the year, leaves 95-octane at EGP 8.50 per liter, 92-octane at EGP 7.50, and 80-octane at EGP 6.25. Diesel\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\/10\/89.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\/593655","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=593655"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/593655\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/593646"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/593656"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=593655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=593655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=593655"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=593655"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=593655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}