The San Francisco-based cab-hailing company- Uber increased their fare prices in Egypt early to meet the new rise in fuel prices that were implemented last month, said General Manager Abdel-Latif Waked on Tuesday.
“The aim of the fare increase is to maintain a sustainable living for Uber drivers while ensuring that our riders continue to move around their cities with affordable, efficient and safe rides,” Waked further noted.
For an average UberX ride, the base fare has been raised from five Egyptian pounds to six pounds, while the 1.5 pounds per kilometer has been boosted to 1.85 pounds.
As for the more luxurious Uber SELECT rides, the fare base is seven pounds and two pounds per kilometre.
Uber says that its average UberX ride in Cairo remains more affordable than other Car hailing apps, despite the new price increase.
“Uber is committed to the Egyptian market and continues to work towards providing more economic opportunity to thousands of partner drivers and increasing access to safe transport for millions of Egyptians through its technology,” The Egyptian official added.
The company is currently operating in Cairo, Alexandria and Mansoura, in addition to providing services in North Coast resort area during the summer season.
Uber’s rival, the UAE-based cab-hailing app Careem, increased their fares in Egypt on Monday.
In June, the Egyptian government cut fuel subsidies for the second time in less than one year.
In November 2016, Egypt’s petroleum ministry announced fuel subsidy cuts as part of its fiscal reform programme, shortly following the Central Bank of Egypt freely floated the pound, after which cab-hailing applications increased their fares. Source: Ahram online