Egypt: Cairo Governor Raises Taxi Fares Following Increase in Fuel Prices

24 Nov 2016   Egypt

The Cairo Governor announced on Tuesday that taxi fares’ initial charge will increase from EGP 3 to EGP 4, along with an increase in the rate per kilometer from EGP 1.4 to EGP 1.75, in the wake of a surge in the prices of fuel. Taxi drivers called on the cabinet earlier this month to adjust the fare in accordance with the recent hikes in energy and fuel prices. The government raised fuel prices by up to 47 percent on November 4, hours after the Central Bank decided to float the currency. Both measures were seen as part of an economic reform package that aims to reduce the budget deficit and the public debt. According to the Petroleum Ministry, the prices for 80 octane gasoline increased to reach EGP 2.35 per litre instead of EGP 1.6, and 92 octane gasoline increased to EGP 3.5 instead of 2.6 […]

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