Reuters
The Media Center of the Egyptian Cabinet revealed the fact that gasoline prices were raised after the issuance of amendments to the decision “proceeds from the increase in gasoline prices allocated for the construction and maintenance of public roads.”
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The center said that it had contacted the Ministry of Petroleum and Mineral Resources, which denied raising gasoline prices after the issuance of amendments by Egyptian President Abdel-Fattah El-Sisi to the decision “the outcome of the increase in gasoline prices allocated for the construction and maintenance of public roads.”
The center explained that the selling prices of gasoline to consumers are as they are, and the decision has no effect on the price of gasoline to the consumer, which has not undergone any new increases, and that the prices for selling fuel are determined by the Automatic Pricing Committee for petroleum products on a quarterly basis.
The amendments issued by the Egyptian President relate to the distribution of the proceeds of the increase in gasoline prices stipulated in Presidential Decree No. 158 of 1980 – which stipulated the establishment of a special account for the proceeds of the increase in gasoline prices allocated for the construction and maintenance of public roads between the General Authority for Roads and Bridges by 67%, The General Secretariat of the Ministry of Local Development is 33%.
Source: RT
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