Uber Technologies Inc said on Sunday it raised its Egyptian minimum base fares following the recent fuel price hikes in the North African country.
Egypt’s Ministry of Oil announced Saturday morning steep increases in fuel and cooking gas prices as part of the country’s economic reforms and austerity measures designed to overhaul the country’s ailing economy.
Prices for cooking gas increased from 60 to 100 Egyptian pounds (from $3.30 to $5.60) per cylinder for commercial use, a more than 60-percent increase. The price for home use rose from 30 to 50 pounds ($1.68 to $2.80) per cylinder.
Ninety-two octane gasoline increased from 5 pounds to 6.75 pounds (from 28 cents to 38 cents) per liter, or about a 34-percent increase. Eighty octane gas increased from 3.65 to 5.5 pounds (from 20 cents to 31 cents) per liter, nearly a 50 percent increase.
Ninety-five octane gasoline increased from 6.6 pounds to 7.75 pounds (from 37 cents to 43 cents), or nearly 17.5 percent.
The San Francisco-based technology company said in a statement that the price increases went into effect on Monday morning. It said it did not increase its base fare from 7 pounds in Cairo, the price for each additional kilometer covered became 2.30 instead of 2 pounds. Uber kept its waiting fair at 30 piasters/minute.
In Egypt’s second biggest city, Alexandria, Uber increased its base fare from 6 to 6.5 pounds. For additional kilometers, they saw an increase from 2 to 2.5 pounds. However, its 30 piasters/minute waiting fare also remained unchanged.
Different cities such as Hurghada, Zakazik, Tanta, and Damanhour had a different system for the price increase. The base fare remained unchanged at 6 pounds but the price for each additional km went up from 1.85 to 2.10 pounds and the waiting fare went up from 25 to 30 piasters/minute.