From Longman Business Dictionaryfixed priceˌfixed ˈpriceCOMMERCE1[countable] a price that is definite and that cannot be reduced or increasedSYNGUARANTEED PRICEOver the first five years of the contract, most of the gas will be sold at a fixed price.2[countable] an official price for a product or service, set by a government. When the amount has been set, it is illegal to sell the item above this priceSYNGUARANTEED PRICEThe taxis charge a fixed price and are regulated by the city government. → price
