{"id":599689,"date":"2019-01-08T05:09:49","date_gmt":"2019-01-08T05:09:49","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/08\/govt-to-implement-fuel-pricing-mechanism-on-95-octane-gasoline-in-2q2019\/"},"modified":"2019-01-08T05:09:49","modified_gmt":"2019-01-08T05:09:49","slug":"govt-to-implement-fuel-pricing-mechanism-on-95-octane-gasoline-in-2q2019","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/08\/govt-to-implement-fuel-pricing-mechanism-on-95-octane-gasoline-in-2q2019\/","title":{"rendered":"Gov\u2019t to implement fuel pricing mechanism on 95 octane gasoline in 2Q2019"},"content":{"rendered":"

<\/a> 95 octane fuel could move up or down 10% thanks to new price mechanism:<\/b> The price of 95 octane gas may fluctuate up or down by 10% when the a new pricing mechanism that pegs it to the global market comes into effect in April, according to a government decree establishing the committee that will manage mechanism published in the Official Gazette<\/a>. That grade of gasoline is no longer subsidized. The new pricing committee, which will include representatives from the oil and finance ministries, will be in charge of issuing quarterly recommendations based on Brent crude and the exchange rate. The Oil Ministry will proceed based on the recommendations, which will aim to ensure the efficiency of the pricing mechanism and tie up any loose ends.<\/p>\n

New pricing mechanism to be applied to other fuel grades<\/b>, an unnamed official had told Bloomberg<\/a>. The government plans to extend the pricing mechanism for other grades in June after it lifts subsidies, effective in September.<\/p>\n

Price won\u2019t necessarily change in April:<\/b> The price could just stabilize, Oil Minister Tarek El Molla told Reuters<\/a>. \u201cThis does not mean an increase in price during the second quarter of this year,\u201d he said. \u201cThe price may fall or rise or stabilise at its current rate.\u201d The price of 95 octane gasoline will remain the same until 2Q2019 and potential cuts or raises will not exceed 10%.<\/p>\n

Not if Saudi has anything to say on the matter: <\/b>Meanwhile, Saudi Arabia is showing us again that what is good for some EMs is not good for others, as it plans reduce crude exports by up to 800,000 bbl\/d from November levels. The oil exporter is hoping to see prices reach USD 80\/bbl, according to the Wall Street Journal<\/a>. The spike in all prices to USD 80\/bbl last year had contributed to a strain in Egypt\u2019s budget. Brent crude had gained 2% last Friday to 57.06\/bbl, they\u2019re highest since 19 December, following OPEC cuts.<\/p>\n

Background: <\/b>Disbursal of a USD 2 bn tranche of the IMF extended fund facility to Egypt had reportedly been delayed<\/a> from December to January because the multinational organization was waiting for Egypt to announce plans to implement the mechanism.<\/p>\n

The Oil Ministry is in full damage mode, as the story has been the biggest thing on the airwaves. <\/b>\u00a0Oil Ministry Spokesman Hamdy Abdel Aziz told Al Hayah Al Youm\u2019s Khaled Abu Bakr that the mechanism will mean that 95 octane, a gasoline grade only used by 4% of the population, will be pegged to international prices (watch, runtime: 06:06<\/a>). Abdel Aziz also told Hona Al Asema that the 10 percent average is meant to protect the people\u2019s interest (watch, runtime: 05:47<\/a>). The spokesman also phoned Masaa DMC's Eman El Hosary (watch, runtime: 02:56<\/a>) to discuss the same ordeal.<\/p>\n","protected":false},"excerpt":{"rendered":"

95 octane fuel could move up or down 10% thanks to new price mechanism: The price of 95 octane gas may fluctuate up or down by 10% when the a new pricing mechanism that pegs it to the global market comes into effect in April, according to a government decree establishing the committee that will […]<\/p>\n","protected":false},"author":1,"featured_media":599690,"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":[93,72,819,100,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-599689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-energy","tag-enterpriseam","tag-fuel","tag-policy","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"6975493e-5e11-437f-8cfc-0bebc44b57ff","is_powered_by":true,"section_story_id":"61137b8b-f3f9-4fc5-92a7-8071a9f6912f","story_type":"1","photo_url":"https:\/\/ent.news\/2021\/1\/102.jpg","photo_position":"above","related_issue":[599679],"teaser":"","voice_url":""},"yoast_head":"\nGov\u2019t to implement fuel pricing mechanism on 95 octane gasoline in 2Q2019 - 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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":596575,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/02\/is-egypts-fuel-pricing-mechanism-coming-into-effect-this-month\/","url_meta":{"origin":599689,"position":1},"title":"Is Egypt\u2019s fuel pricing mechanism coming into effect this month?","author":"enterpriseam admin","date":"2 July 2019","format":false,"excerpt":"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\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\/2021\/1\/102.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599685,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/08\/new-fuel-pricing-mechanism-dominates-airwaves\/","url_meta":{"origin":599689,"position":2},"title":"New fuel pricing mechanism dominates airwaves","author":"enterpriseam admin","date":"8 January 2019","format":false,"excerpt":"Dominating the airwaves was the new fuel pricing mechanism that the government will impose on 95 octane gasoline come April (scroll down for the full story in this morning\u2019s Speed Round). There was not much else from the airwaves last night.Masaa DMC also hosted the family of Mohamed Abeed, the\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","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":599689,"position":3},"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":[]},{"id":575279,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/11\/fuel-prices-to-remain-unchanged-till-end-of-2020\/","url_meta":{"origin":599689,"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":593655,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/egypt-cuts-fuel-prices-for-first-time-since-2016\/","url_meta":{"origin":599689,"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 "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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/599689","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=599689"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/599689\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/599679"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/599690"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=599689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=599689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=599689"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=599689"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=599689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}