244% increase in the price of gasoline 80 in the last 3 years, while the increase to benzene 92 was around 160%. And the decision to float the exchange rate against the dollar at the end of 2016
The government plans to lift subsidies for most oil products by June, bringing prices to 100% of their costs, according to IMF documents announced on Saturday about the results of the fourth evaluation of the Egyptian economy. In implementing the energy aid reform by introducing the new fuel price mechanism for all petroleum products, including diesel and gasoline, on 5 June (excluding liquefied natural gas and diesel for electricity and bread industry production) and prices effectively at world prices to link in September.
According to the report, current fuel prices in Egypt are between 85 and 90% of the price of their costs.
Brent prices are currently around $ 70 per barrel, which is expected to be around 2019, compared to an average of $ 71.76 per barrel in 2018.
The government has raised fuel prices three times since the flotation of the pound in November