Petroleum Ministry denies rumors of fuel shortage

Petroleum Ministry denies rumors of fuel shortage

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Thu, 31/01/2013 - 22:39

The country is not experiencing a shortage of gasoline or diesel fuel, the Petroleum Ministry announced on Thursay.

In a press statement issued on the sidelines of a conference on the regulation of mining industries, Petroleum Minister Osama Kamal said the ministry met 103 percent of the demand for petrol on Tuesday, and 105 percent on Wednesday.

The minister added that he has inspected several gas stations and could not explain why cars were queuing for gas.

“They probably want to hoard gas in anticipation [of a shortage],” he said.

The nation produces only 75 percent of its annual consumption of diesel fuel. The country has suffered from periodic fuel shortages for nearly two years.

Officials have blamed the black market for consuming supplies and creating artificial shortages, and the media for stoking panic among drivers.

In December, the Egyptian General Petroleum Corporation issued a tender requesting 450,000 tons of diesel per month from January until March to meet the country's fuel needs.

Edited translation from Al-Masry Al-Youm