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Former Petroleum Minister: Fuel Prices Stable Until 2026
Former Minister of Petroleum, Osama Kamel, stated that Neste expects fuel prices in Egypt to increase until the end of 2026, but he anticipates they will remain stable during this period due to the instability and fluctuations in global oil markets. He explained that transportation and insurance costs influence oil prices, and that decisions regarding fuel pricing are influenced by economic, social, security, and political considerations, which require comprehensive studies. He emphasized that the gap between local production and consumption reaches 45%, posing a significant challenge to the energy sector. Additionally, the Pricing Committee has not yet convened, and the government relies on stable prices to support the economy and reduce the burdens on citizens.
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