The Petrol 80 crisis is largely being caused by both the smuggling of the petrol from Egyptian governorates to neighboring states and rumor spreading about price spikes, said a source in the Egyptian Ministry of Petroleum. “The price of petrol in neighboring states is more expensive than in Egypt,” the source said. “The Egyptian government subsidizes petrol 80 to the tune of eight billion EGP (U.S. $1.34 billion).” Egypt imports 10 percent of its total needs for petrol 92, he added. “The Authority pumped 24 percent more petrol 80 to Egyptian governorates to avoid the crisis,” said Vice President of the Public Authority of Petroleum Mohamed Shoeeb.
