{"id":596575,"date":"2019-07-02T12:57:42","date_gmt":"2019-07-02T12:57:42","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/02\/is-egypts-fuel-pricing-mechanism-coming-into-effect-this-month\/"},"modified":"2019-07-02T12:57:42","modified_gmt":"2019-07-02T12:57:42","slug":"is-egypts-fuel-pricing-mechanism-coming-into-effect-this-month","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/02\/is-egypts-fuel-pricing-mechanism-coming-into-effect-this-month\/","title":{"rendered":"Is Egypt\u2019s fuel pricing mechanism coming into effect this month?"},"content":{"rendered":"

<\/a> Is Egypt\u2019s fuel pricing mechanism coming into effect this month?<\/b> Speculation is rife in the local press<\/a> that the Oil Ministry might begin moving prices on 95-octane fuel this month under the automatic fuel pricing mechanism<\/a>, after it kept the price of 95-octane unchanged at EGP 7.75 per liter in April<\/a>. The government has also launched a video campaign on the benefits of lifting fuel subsidies, according to Masrawy<\/a>, which seems to be a definite sign that the price changes are coming.<\/p>\n

A quick refresher on the pricing mechanism:<\/b> The new mechanism \u2014 whose enforcement was mandated by the IMF as a condition for the disbursement of the fifth tranche of its USD 12 bn facility to Egypt \u2014 will allow the price of 95-octane to fluctuate by as much as 10% in line with movements in the international markets, the government had said at the time. The Finance Ministry has said previously that any USD 1\/bbl increase in international oil prices would lead to a EGP 2.3 bn increase in fuel subsidy costs. The prices undergo a periodic review by a government committee.<\/p>\n

The bigger question is how the government plans to pull the trigger on wider fuel subsidy cuts this year. <\/b>With July being fuel subsidy cuts month, it is yet unclear how the government plans to move on cutting subsidies for the other fuel grades. Government officials who spoke to Bloomberg late last year<\/a> said that the plan to extend the new mechanism to other grades would be announced in June, with an eye to implementing it in September. It is also unclear whether we would see this apply across all grades and other fuel sources (including liquid gas and diesel) at once or gradually.<\/p>\n

Electricity prices are also rising by 15% on average<\/b>, as the government makes further cuts to the subsidy budget. Check out the full price breakdown here<\/a>.<\/p>\n

What we do know is the overall budgeted size of the subsidy cuts this year.<\/b> The FY 2019-2020 state budget<\/a>, which was ratified over the weekend by President Abdel Fattah El Sisi, will see large fuel subsidies fall to EGP 52.96 bn, from EGP 89.75 bn last fiscal year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Is Egypt\u2019s fuel pricing mechanism coming into effect this month? Speculation is rife in the local press that the Oil Ministry might begin moving prices on 95-octane fuel this month under the automatic fuel pricing mechanism, after it kept the price of 95-octane unchanged at EGP 7.75 per liter in April. The government has also […]<\/p>\n","protected":false},"author":1,"featured_media":596576,"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":[72,819,272,371,2380,98],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-596575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-fuel","tag-imf","tag-oil-ministry","tag-speed-round","tag-subsidies","wpautop","entry"],"acf":{"mongo_id":"a1cdc2d2-a56b-4bf6-b53e-03b74b3f35ef","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/1\/102.jpg","photo_position":"above","related_issue":[596570],"teaser":"","voice_url":""},"yoast_head":"\nIs Egypt\u2019s fuel pricing mechanism coming into effect this month? - 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\/07\/02\/is-egypts-fuel-pricing-mechanism-coming-into-effect-this-month\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Egypt\u2019s fuel pricing mechanism coming into effect this month?\" \/>\n<meta property=\"og:description\" content=\"Is Egypt\u2019s fuel pricing mechanism coming into effect this month? Speculation is rife in the local press that the Oil Ministry might begin moving prices on 95-octane fuel this month under the automatic fuel pricing mechanism, after it kept the price of 95-octane unchanged at EGP 7.75 per liter in April. 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The new pricing committee cited a stronger EGP and current\u2026","rel":"","context":"In "Speed Round"","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":593655,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/egypt-cuts-fuel-prices-for-first-time-since-2016\/","url_meta":{"origin":596575,"position":2},"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 "Speed Round"","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":[]},{"id":600308,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/27\/egypts-fuel-subsidy-bill-falls-15-in-1h2018-19\/","url_meta":{"origin":596575,"position":3},"title":"Egypt\u2019s fuel subsidy bill falls 15% in 1H2018-19","author":"enterpriseam admin","date":"27 January 2019","format":false,"excerpt":"State\u2019s fuel subsidy bill falls 15% in 1H2018-19: Egypt\u2019s fuel subsidy bill fell 14.7% y-o-y in 1H2018-19 to EGP 43.5 bn, Oil Minister Tarek El Molla told Reuters on Wednesday. Egypt is expecting to spend around EGP 90 bn in total on fuel subsidies in the fiscal year ending in\u2026","rel":"","context":"In "Speed Round"","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":575279,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/11\/fuel-prices-to-remain-unchanged-till-end-of-2020\/","url_meta":{"origin":596575,"position":4},"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 "Speed Round"","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":[]},{"id":566955,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/govt-keeps-fuel-prices-unchanged-through-march\/","url_meta":{"origin":596575,"position":5},"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 "Speed Round"","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/596575","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=596575"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/596575\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/596570"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/596576"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=596575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=596575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=596575"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=596575"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=596575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}