Cairo: Prime Minister Mostafa Madbouli said on Wednesday, March 18, 2026, that the global oil market is experiencing severe instability, which has driven rapid increases in fuel prices. He noted that any global news affects prices, and that the state must manage these demands.

According to State Information Service Egypt, analysts warn that if the situation worsens, oil prices could reach $150-200 per barrel. For comparison, the price of a ton of diesel before the war was $665, and it has now risen to $1,604, a significant increase.

Speaking at a press conference following the weekly Cabinet meeting, Madbouli said President Abdel Fattah El Sisi instructed the government during the "Egyptian Family Iftar" to explain current measures to the public, stressing the need to understand the figures and the financial burden the state is bearing.

He highlighted the central role of energy, petroleum products, natural gas, and electricity in the functioning of the economy. The monthly cost of imported natural gas before the war was $560 million; the same quantity now costs $1.65 billion, representing an increase of over $2.1 billion. Madbouli noted that gas is essential for electricity generation and industrial operations.

Petroleum products have also seen price hikes: the price per barrel was $69 before the war and has now reached $108.5, representing a $15 increase from the previous fuel price adjustments.

Madbouli stressed that the ongoing war presents clear challenges and requires careful management and consumption control. The government is aware that the recent rise in fuel prices has repercussions on overall costs and is emphasizing measures to rationalize consumption and the use of petroleum products.

He reassured citizens that the price of subsidized bread will not increase following the rise in fuel prices, and there are no plans to raise it.