According to Al Shorouk, a Ministry of Finance committee tasked with studying offers for mechanisms of hedging against fuel price hikes is scheduled to convene for the first time in early July. The Ministry had received offers from seven international banks and institutions looking to provide Egypt with fuel-hedging solutions. Sources claim that the committee could take up to two months to complete its work and may select more than one provider based on the best average cut-off price and repayment terms offered. The sources added that the Ministry of Petroleum is currently conducting a study to determine the market’s average fuel needs over the coming year, which should help the committee with its decision. The contracts are likely to span two to three years, according to the source, who added that the Madbouly Cabinet is also considering hedging against wheat price fluctuations.