3.7% growth in trade exchange with South Africa: ECS    Parliamentary panel recommends increasing 2019/2020 health budget to EGP 90bln    Legal measures taken against 85 money launderer: Interior Ministry    Saudi air defence intercepts two Houthi missiles in Mecca province: Saudi embassy    Egypt looking forward to hosting AfCFTA's executive office: Prime Minister    At Cannes, Arab Cinema Centre announces winners of its 3rd Critics Awards    Oil surges above $72 per barrel awaiting regional political movements    17 people injured in IED attack on tourist bus in Giza    Egypt sends second military plane carrying medical aid to Malawi    Al-Sisi, Saudi ambassador confirm strong bilateral ties    GNA announces receiving shipments of armoured vehicles, ammunition    Zamalek faces RS Berkane for first CAF Confederation Cup title    "Tut" announced as AFCON 2019 mascot in Egypt    Royal aims to achieve EGP 250m in sales of its projects during 2019    First secondary school's electronic exam experiences system failure    Mariout Hills invests EGP 162m in first city for sports medicine    Rihanna Joins LVMH with New Fashion Brand    Interest rate likely to be fixed during CBE's Thursday meeting: HC Securities    Egyptian short film Fakh screened at Cannes Film Festival    Alain Delon receives Cannes honorary Golden Palm prize    Toronto International Film Festival announces 2019 Platform Jury    Smokers have higher risk for multiple strokes    EMA warns Egyptians of 'extremely hot weather' on Tuesday    Indonesia steps up security ahead of presidential election result    Tennis: 'I thought my career was over after pregnancy': Azarenka    Kroos extends Real Madrid deal until 2023    Italy's Salvini says China cannot be in control of sensitive data    Mbappe statement throws spanner into the works at PSG    President Sisi receives citizens for Iftar at his private residence    Argentine great Maradona to miss Cannes film premiere after shoulder injury    Al-Sisi pardons 560 prisoners convicted in cases from 2013 to 2017    Google Doodle celebrates Omar Khayyam, medieval mathematician, astronomer and poet    President Sisi salutes the martyrs of the armed forces on the 10th of Ramadan victory anniversary    Armed Forces kills 47 terrorists, destroys 29 hideouts in Sinai: spokesperson    Jürgen Klopp wins German Football Ambassador award 2019    Presidential decree pardons 560 prisoners    Conflict vs dialogue    Algeria steps up arrest campaign    The alternative economy in Ramadan    Ramadan, Egyptian style    AFCON countdown: Ticket tantrum    Liverpool finish second, Salah first    Risks from inflation    Travelling out of the box    Newsreel    No new rent law    Lebanese singer Tania Saleh at the Opera House's Ramadan nights    A present-day Aladdin    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

88% decline in consumption of 95-octane gasoline in the domestic market: EGPC report
Published in Daily News Egypt on 04 - 06 - 2014

The consumption rate for 95-octane gasoline declined by 88% in the domestic market, and reached 5,000 tons in the first nine months of the 2013/2014 fiscal year (FY) as compared to approximately 43,000 during the year 2011/2012, according to a report issued by the Egyptian General Petroleum Corporation (EGPC).
The decline in consumption is expected after the government raised the price of a liter of 95-octane gasoline in November 2012 to EGP 5.85 from EGP 2.75, which happened in light of the stability of other forms of traded petroleum resources on the market, according to Medhat Youssef, an energy expert and former deputy head of the EGPC.
Youssef said that the 5,000 tons in the consumption rate for octane-95 during FY 2013/2014 was used by cars belonging to the presidency, cabinet, and embassies, whereas others who were using octane-95 moved over to octane-92 with octane booster added.
The price difference between a liter of 92 and 95 is approximately EGP 4. Owners of cars requiring octane-95 add half a liter of octane booster to every 40 liters of 92-octane gasoline, which gives the car the same capabilities, according to Youssef.
Youssef pointed out that a half liter of octane booster is EGP 33, and that the price of a liter of gasoline equivalent to octane-95 after octane booster has been added is EGP 2.75.
The Egyptian Customs Authority has allowed the private sector to import octane booser without interference from the EGPC. This led to a recovery in the market selling booster and a slump for sales of octane-95 after its price increase, according to Youssef.
Youssef stressed that it is not possible to cancel octane-95 from the market because there are numerous governmental vehicles consuming it, particularly the presidency's. The government began marketing octane-95 on the domestic market in September 1995, by Ministerial Decree No. 591[KE1] , Youssef said.
The use of octane-95 occurred based on the recommendations of global automotive manufacturers in order to attain optimal performance, according to the EGPC report.
The use of octane-95 in luxury cars improves the economics of fuel consumption, prolongs engine life, reduces costs of maintenance. If there was a shift back to the use of octane-95 rather than other forms of subsidised gasoline, there would be great benefits to the national economy, the budget, and social justice, according to Youssef.
Octane-95 is available at gasoline stations all over the country to meet demands for it, according to the report.

Clic here to read the story from its source.