Egypt holds local fuel prices steady at second pricing mechanism meeting

2020-01-02 | Since 3 Month

Egypt left domestic fuel prices unchanged on Thursday at the second meeting under an IMF-backed pricing mechanism that links energy prices to international markets, the petroleum ministry said in a statement.

At its inaugural meeting in October, the pricing mechanism committee cut fuel prices marginally after the government increased them steeply over the previous three years to cover the cost of fuel on international markets.

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