Know the impact of stabilizing fuel prices on citizens

Trade and economic experts confirmed that the decision of the Automatic Pricing Committee for Petroleum Products to fix the current prices of fuel comes in implementation of President Abdel Fattah El-Sisi’s directives to ease burdens on citizens, and also supports economic development plans, especially the industrial sector, other than strengthening policies to control inflation rates.

 The Petroleum Products Automatic Pricing Committee decided to fix the current prices of fuel until the end of next December, in order to maintain price stability in the local market in light of global developments.

 Thus, the price of gasoline will remain 80 octane at 8 pounds, 92 octane at 9.25 pounds, and 95 octane at 10.75 pounds per liter, and the diesel price will remain at 7.25 pounds.

 They also stressed that the decision confirms the government's continuous support for the economic sectors and the adoption of flexible policies in dealing with global economic conditions and developments that have clearly affected the global economy, especially after the Russian-Ukrainian war.

 Secretary-General of the Federation of Chambers of Commerce, Dr. Alaa Ezz, said that the timing of the decision came on time, indicating that it supports the state's approach to controlling prices, curbing inflation and easing burdens.

 He continued, "One of the important positives of the decision is also to prevent the increase in transportation prices and thus the increase in the prices of goods and products, of which the transportation cost represents a large part."