Ride-sharing firms Uber and Careem announced on Tuesday an increase trip rates as of May 11, in response to the Egyptian Cabinet’s decision earlier in April to raise fuel prices.
The average increase in fares amounts to 0.25 Egyptian pounds ($0.016) to open the metre and an additional 0.15 pounds per square kilometre.
Private Car Pricing
The base fee for both services when opening the metre rose to 7.50 pounds from 7.25 pounds.
The price per kilometre has risen to 2.85 pounds from 2.70 pounds, and the cost-per-minute when a driver is waiting went from to 0.42 pounds from 0.40 pounds.
The minimum price for ride is around 12 pounds.
Connect and Scooter Services
The minimum price for these trips after the raise is 6 pounds, and initiating a ride now costs 5 pounds instead of 4 pounds. Riders will be charged 1.75 pounds per kilometre and 0.35 pounds per minute waiting.
Egypt: Fuel Price Hikes
In late April, Egypt increased the price of gasoline in the local market by 0.25 pounds per litre following a recommendation from the Automatic Pricing Committee for Petroleum Products, which monitors and adjusts petroleum product prices in Egypt on a quarterly basis.
The new prices per litre had been set as follows: 6.50 Egypt pounds for 80 octane gasoline, 7.75 pounds for 92 octane gasoline, and 8.75 f pounds for 95 octane gasoline.
Prices of industrial-use Mazut were kept at 3,900 pounds per tonne and diesel fuel at 6.75 pounds per litre.
The committee reiterated its decisions to the exceptional situation that the world is in due to the impacts of the coronavirus pandemic.
