Egypt warns against hoarding, to pursue legal action against price manipulation

Egypt’s government on Tuesday said it would take all legal measures, including referring cases to military prosecution, against anyone found hoarding or manipulating goods amid the ongoing economic and energy crisis.

Prime Minister Moustafa Madbouly said the government would not allow individuals or companies to exploit the exceptional situation for illegal profit. “The government is committed to protecting consumers and maintaining market stability,” he said.

The warning comes as Egypt faces rising fuel prices and global energy market volatility following escalating tensions in the Middle East, involving the United States, Israel, and Iran. Oil prices briefly exceeded $119 a barrel on Monday before falling to around $93 after US President Donald Trump indicated the conflict could end soon.

Madbouly said authorities would monitor markets closely and enforce regulations to prevent manipulation and ensure supplies for consumers.

Attribution: Amwal Al Ghad English