Petroleum Ministry: No further price adjustments will be made for at least 6 months

Engineer Moataz Atef, spokesperson for the Ministry of Petroleum and Mineral Resources, stated that the ministry is monitoring the impact of the decision to increase tariffs and fuel prices on the cost of transporting products and goods, which affects prices in local markets.

 

In an interview with Extra News TV Channel, Moataz Atef added that the ministry is working to increase local fuel production by offering incentives to local partners. The goal is to reduce reliance on imports and thus lower the overall cost of products in the future, he said. 

 

Engineer Moataz further added that the coming period will witness an increase in reliance on local products compared to imports, stressing that no further price adjustments will be made for at least six months so that the impact can be thoroughly studied.