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Egypt cuts jet fuel prices

Egypt cuts jet fuel prices

ArabFinance: The Egyptian government decided to cut fuel prices for airlines by another $0.15 per gallon starting January 21st, according to a Cabinet statement

This marks the second time after cutting the prices by $0.10 per gallon in April.

The move aims to help both tourism and petroleum sectors stay burst out of the current economic slump due to the current coronavirus pandemic, the statement added.

Egypt decided earlier in January to hold domestic fuel prices steady until March 31st.

The decision aims to stabilize prices in the local market amid the current COVID-19 crises, the petroleum ministry elaborated.

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