Cairo - Mubasher: Egypt has set the price of Brent crude oil at $68 per barrel (pb) for fiscal year 2019/2020 and at around $70 pb for FY21/22, according to the Ministry of Finance’s (MoF) data.
Brent crude oil price has been estimated at about $70 pb for FY18/19, the MoF said in a statement.
The Egyptian government has raised its estimation for the average price of crude oil during FY18/19 to $70 pb from $67 pb, according to data.
In April, Egypt’s Prime Minister Mostafa Madbouli had approved the application of the automatic price indexation mechanism on 95-octane gasoline.
