Egypt’s PM: Fuel Price Rise Will Be Reassessed After Regional Conflict

Prime Minister Mostafa Madbouly said the recent rise in fuel prices in Egypt will be reassessed once the repercussions of the regional conflict subside, describing the current measures as exceptional and temporary.

Madbouly stated that the government is absorbing a significant portion of the increase in global fuel prices in order to reduce pressure on citizens. He added that authorities remain committed to ensuring the availability of energy for households and productive sectors to maintain economic activity.

According to the prime minister, the decision comes amid a widening gap in global oil prices driven by ongoing military developments across the Middle East, which began after the US and Israel struck Iran, followed by retaliatory strikes from Iran. A central government committee has been formed to monitor the repercussions of the conflict and respond to developments in real time.

The committee is tasked with tracking regional developments and securing essential needs, part of broader efforts to manage the potential impact of the conflict on Egypt’s economy and critical supplies.

Madbouly reiterated that the fuel price increase will be revisited once regional conditions stabilise. He also said Egypt has been engaged in diplomatic efforts aimed at stopping the escalation in the Middle East.

At this stage, he said, the government’s priority is to maintain state stability and protect the national economy from the shocks affecting the region.