We estimate efficient prices for passenger transportation in Greater Cairo to address externalities from local pollution, greenhouse gases, traffic congestion, and traffic accidents. An estimated $2.20 per gallon gasoline tax (2006 US$) would be economically efficient, compared with the current subsidy of $1.20 per gallon. Per-mile tolls could target congestion and accident externalities more efficiently than fuel taxes, however. Most efficient is combining a gasoline tax of $0.80 per gallon with per-mile tolls of $0.12 for autos and $0.19 for microbuses. Current public bus and rail fare subsidies are close to efficient levels in the absence of such policies.