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Petroleum minister says an additional three million litres of gasoline will be injected into the market to put an end to a fuel shortage crisis.
18.01.12 | Interesting article at Ahram Online

A breakthrough took place in Egypt's gasoline crisis and it will be solved by Wednesday at the latest, Petroleum Minister Abdallah Ghorab, said in a press conference on Tuesday.

Ghorab indicated that an extra three million litres of fuel are being injected into the market in order to contain the crisis that started last Sunday.

The minister indicated that fuel crises recur and that they usually get solved quickly. He added that such crises are the outcome of the spread of rumours about fuel shortages which lead to people panic-buying and hoarding fuel.

Egypt has been hit with a crisis in gasoline whereby all types of octane – 80, 90, 92 and the more expensive 95 – have been in short supply, resulting in long queues outside petrol stations in many parts of the country. Some gas stations have resorted to setting a 20-litre limit on all gasoline purchases.

Ghorab said that rumours that spread through electronic social media about the government's intention to raise the price of gasoline sparked the consumer panic.