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Prime Minister on Fuel Price Outlook
Prime Minister Mustafa Madbouly confirmed that the government will not take any additional measures to increase fuel prices, despite the rise in the price of a barrel of oil to $125 last April and throughout the summer, amid increasing consumption. He clarified that gasoline prices experienced a modest increase of 3 Egyptian pounds, and that the government will revert to automatic pricing mechanisms in the first quarter of the new fiscal year, based on a technical evaluation of the situation, with the aim of protecting consumers from additional burdens.
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