24 Hrs
Source:
الاقتصادية
Evaluating Egypt's fuel price cuts
Despite the decline in global oil prices and the depreciation of the dollar against the Egyptian pound due to a potential agreement between the U.S. and Iran, a reduction in fuel prices in Egypt is currently unlikely. This is because of the high costs associated with importing liquefied natural gas and ongoing geopolitical uncertainties in the region. The gap between the cost of fuel production and domestic prices remains wide, with the government previously covering a considerable difference before any price increases. This makes any reductions unexpected, and the market continues to rely on government subsidies to maintain price stability.
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