Egypt saves $11.74bln from lower gasoline consumption

The economic reform programme led to decreasing the consumption this year

  
Tarek El Molla, Egypt's Minister of Petroleum and Mineral Resources speaks during an interview with Reuters at his office in Cairo, Egypt, October 29, 2015. Image used for illustrative purpose

Tarek El Molla, Egypt's Minister of Petroleum and Mineral Resources speaks during an interview with Reuters at his office in Cairo, Egypt, October 29, 2015. Image used for illustrative purpose

REUTERS/Amr Abdallah Dalsh

Cairo –   The Egyptian Minister of Petroleum, Tarek El-Molla, said that gasoline consumption in the country reached 7.5 million tonnes annually in 2016.

With the consumption rate of 7%, the gasoline consumption would have reached 12 million tonnes by 2023, El-Molla added on the sidelines of the inauguration of Mostorod hydrocracking complex on Sunday, according to state-run TV.

However, the economic reform programme led to decreasing the consumption this year, with an expectation to continue to fall to 7 million tonnes.

Accordingly, this saved the country 20 million tonnes worth EGP 185 billion.

Source: Mubasher

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