CAIRO, January 16, 2012 (AFP)
CAIRO, January 16, 2012 (AFP)
Egypt’s oil ministry on Monday dismissed claims of petrol shortages in the country as huge queues formed outside petrol stations, saying authorities were already pumping 21.5 million litres daily.
“We are currently pumping 21.5 million litres of petrol daily across the country to meet the needs of the local market,” oil ministry under-secretary Mahmud Nazim told reporters.
He said nine million litres daily were allocated to the Cairo governorate alone.
His comments came after massive traffic gridlock plagued Cairo on Sunday as motorists rushed to fill up their cars amid rumours that petrol prices would rise, media reported.
Nazim said the rumours were “unfounded,” adding that Egypt was not facing any shortages.
“The majority of Egypts gasoline needs are produced by local refineries. Imports are estimated at not more than 10 percent, and all gasoline production units are working at full capacity,” he told reporters.
Petrol in Egypt is subsidised and sold at almost half the market value.
Newspapers on Monday linked the crisis to smugglers who reportedly buy up the subsidised petrol to sell abroad.
