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Madbouly Discusses Fuel Price Policies
Egyptian Prime Minister Mustafa Madbouly revealed that the government will monitor developments in global oil prices, which have recently experienced significant increases, by relying on average prices over a period rather than daily prices. He explained that the price of a barrel of oil was estimated at $75 in the budget for the 2025/2026 fiscal year, although the actual price was around $62 at the beginning of the year. Despite the rise in oil prices—which reached $125 per barrel in April—the government has not made a decision to increase fuel prices. Statements also indicated that the Automatic Pricing Committee will resume its work in the coming three months to determine a fair fuel price based on averages and standards, with an emphasis on avoiding placing additional burdens on citizens.
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