The government will not link the price of gasoline 80 and 92 to global prices as it did with gasoline 95, until June 2019, he said. The cabinet announced pricing gasoline 95 according to the price of Brent oil as a first step, Mulla said, stressing that gasoline 95 will no longer have a fixed price starting in April. The government plans to substitute gasoline 80 with gasoline 87 in the future, he said, noting that experiments are currently being conducted on the new petroleum product in the laboratories of the Ministry of Petroleum. The following year, Egypt slashed parts of its energy subsidies, resulting in a 60 percent surge in fuel prices. The IMF has since recommended that the government continue removing subsidies on fuel.

Source: Egypt Independent January 08, 2019 09:56 UTC