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Friday, March 29, 2024

Grab justifies extra surge in fare

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HIGHER booking demand with the closure of Uber’s Southeast Asian operation has caused a surge in fares, ride-hailing firm Grab said.

Grab Philippines country head Brian Cu said the fare increases were demand-driven as passengers have taken to social media to complain over high prices and booking cancellations.

“Demand went up sharply by 70 percent compared to a 40-percent increase in supply,” Cu said.

He said the surge rate was not hiked but the surges were happening more often.

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Cu said the additional P2 per kilometer rate was imposed to “lower prices from the ceiling.”

“It made some fares go up, it made some fares go down, but on average fares became more fair for both sides,” he said.

“The P2 that was imposed to the fare was legal. LTFRB was made aware of this during two occasions,” Cu added.

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