Nasr said in a television interview with the Al-Shahbandar program, broadcast on Al-Hadath Al-Youm satellite channel and hosted by Faisal Abdel Aati, that the recent price increases in petroleum products are normal due to the price gap between cost and selling price. He added that there is a large budget subsidy gap directed to petroleum products, which has not yet reached its normal value. Given the current global events, it was necessary to adjust prices, especially since we have not yet reached the basic subsidy level. He considered the recent increase reasonable compared to the large subsidy gap the state is injecting into this sector.
Regarding the impact of the decline in global oil prices, Nasr said that this matter may have a positive impact over the next period, especially with the Egyptian state’s tendency to review petroleum product prices every six months in light of global changes in oil prices, according to statements by the Ministry of Petroleum.