Politics
Egyptian PM Says Government Will Not Rush Fuel Price Cuts Despite Oil Decline
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Egyptian PM Says Government Will Not Rush Fuel Price Cuts Despite Oil Decline
Prime Minister Mostafa Madbouly explained the government's cautious approach on fuel pricing during a press conference in New Alamein on Wednesday.
- Madbouly said the government handled demands for fuel price reductions with caution and would not make decisions before thorough studying of global markets.
- He noted that when oil prices fell to $72 per barrel, some voices called for lowering fuel prices, but he insisted on waiting.
- Madbouly pointed out that oil prices later rose to $85 per barrel, confirming the government's position against rushing decisions.
- Madbouly stated that a plan to implement presidential directives on food security will be completed within 10 days.
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