Following the latest raise in fuel prices in Egypt, Ministry of Local Development have informed governors around the country the awareness of the new transport prices being overpriced
Egypt was hit with devastating news of the tranche of fuel subsidies cuts, leading to a new list of prices of 92 octane gasoline price reached 8 EGP instead of 6.75 per liter. Prices of gasoline 80’s liter increased to LE 6.75 instead of LE 5.
“The increase of transportation fares will be fixed according to each governorate separately, and there are directives from the Minister to the governors to take into account the citizens’ interest regarding the new increase” the Minister revealed to Masrawy
The Minister have also highlighted the importance of not overprice in order to prevent any exploitation by drivers.
However, The ride hailing services on Egypt Uber and Careem (owned both by Uber) have also announced the increase of their fares to their customers and some local transportations have announced the increase of 0.5 EGP to their services.
It’s also important to mention that Egypt’s budget for current fiscal year 2019/2020 revealed the reduction of fuel subsidies to LE 52.96 billion, down from LE 89.07 billion in 2018/2019.