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Sunday, January 12, 2020

Annual Gasoline Price Post - 2020

The price of gasoline continues to increase in Egypt, much to the frustration of the country's motorists.  Over the past year the price per liter has increased almost 15% from 6.75 EGP to 7.75 EGP.

Where does that leave us in terms you can relate to?  The citizens of Cairo now must pay $1.83 per gallon.  I suppose most readers just lost their sympathy.   But look at it from the local point of view; in the last six years, prices have soared from 1.85 to 7.75

We stopped in at a station on Thursday and the first thing I noticed was some shiny new pumps.

We are buying the 92 octane gasoline on the right side.  That is slightly cheaper diesel on the left.

Gasoline sale is a cash business here.  While other attendants wash your windshield and perhaps even fill the tank, the head attendant looks after payment.  He always has plenty of cash in hand.  Yes, that is a bundle of cash in his hand.
Efypt2-05 Efypt2-06

This station is government owned but has the same prices as the Total, Mobil and other privately owned stations.  Some motorists prefer to patronize a line of military operated stations expecting higher quality of fuel but at the same government mandated price.

Here is a table of previous prices showing both the nominal price per liter on the pumps and the equivalent in US prices per gallon at that time.

Year per liter per gallon
2007 1.50 1.04
2011 1.42 0.93
2013 1.85 1.04
2014 1.85 1.01
2016 2.60 1.26
2017 3.50 0.74
2018 5.00 1.11
2019 6.75 1.46
2020 7.75 1.83

Since the Egyptian Pound has strengthened against the dollar over the past year - it now only takes 16 pounds to buy a dollar versus 17.5 a year ago - your humble tourist author has actually seen a 25% increase in price.

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