During the conference, he indicated that for the next 6 months, fuel prices will not be increased.
Prime Minister Mostafa Madbouly announced on Saturday that, following the recent fuel price increases, there will be no further hikes until the end of 2025 if global oil prices stabilize at an average of $73 per barrel. He made this statement during a press conference inaugurating infrastructure projects in Minya governorate.
During the conference, he indicated that for the next 6 months, fuel prices will not be increased.
Madbouly noted that the government is trying to minimize the burden on citizens while bearing the brunt of the impact and will continue supporting low and middle-income households.
Furthermore, Prime Minister Madbouly announced that the Minister of Petroleum will hold a press conference next Wednesday about the recent increases in fuel prices.
The Ministry of Petroleum and Mineral Resources announced Friday the third fuel price increase in 2024, effective on the same day, affecting various octanes and diesel.
The price of diesel fuel, widely used for transporting goods and passengers across the country, has risen from EGP 11.5 to EGP 13.5 per liter, increasing by 17.3%.
The recent price adjustments reflect a significant rise from the start of the year, with diesel prices increasing by 63% and octane prices by over 30%.
The move is attributed to the global oil price surge triggered by the expanding war in the Middle East, tensions in the Red Sea, and the Russian-Ukrainian war.
Brent crude oil prices rose to over $80 per barrel earlier in October before falling to nearly $74 on 18 October.
