The Petroleum Products Pricing Committee decided to move the price of gasoline and diesel in line with international prices, after postponing the increase more than once.
The price of diesel was moved to be 10 pounds instead of 8 pounds and 25 piasters, while the price of gasoline was moved to increase by one pound for each octane number, and as for the gas stove, the price was moved to be 100 pounds instead of 75 pounds.
The decision comes due to the rise in global oil prices as a result of the war on Gaza, and before that the Russian-Ukrainian war.
In the following infographic, we publish a list of countries with the cheapest gasoline prices in the world:
Countries with the cheapest gasoline prices in the world
Allocations to support the prices of gasoline, diesel, and other petroleum products amounted to about 119 billion and 419 million pounds, in the current general budget, which was implemented on the first of last July, an increase that reached about 61 billion and 325 million pounds.
The state doubled gas delivery to homes to reach more than 6 million units to 14.2 million units, while natural gas entered 81 new areas for the first time, including 33 in Upper Egypt.
The committee’s decision comes based on its commitment to what was announced since July 2019 to apply the automatic pricing mechanism to some petroleum products, as the mechanism aims to adjust the selling prices of the products in the local market to an increase or decrease every quarter according to the development that occurs in the two most important factors affecting the cost of making available and selling these products. The products in the local market are the international price of a barrel of Brent crude and the change in the price of the dollar against the pound, in addition to the burdens and other fixed costs.
Egypt is in fifth place…the cheapest country in the world in terms of gasoline prices