Arab Finance: Egypt is working to secure the country’s needs for essential goods and petroleum products amid a recent surge in oil prices and regional tensions, Prime Minister Mostafa Madbouly said at the cabinet's weekly meeting on September 16.
The government is taking steps to ensure the continued availability of essential goods and fuel for a sufficient period, while preparing for various potential scenarios stemming from the regional situation, Madbouly affirmed during the Cabinet’s meeting.
He also directed the related authorities to intensify inspections of markets and retail outlets to ensure the availability of key commodities and maintain price stability.
These measures come as escalating geopolitical tensions in the Middle East have pushed oil prices higher and raised concerns over potential disruptions to global energy supplies.
Moreover, Madbouly noted that the government has begun preparations to organize a conference called for by President Abdel Fattah El-Sisi, scheduled to take place in October, to address public inquiries on various issues and topics.
On September 14, oil prices surged more than 3% as fresh strikes on Saudi Arabia’s energy infrastructure heightened concerns over global supply disruptions.
