The Land Transport Authority (LTA) and Public Transport Council (PTC) in a joint statement today (17 Mar) announced that taxi companies will be implementing a new “dynamic pricing” system (i.e. surge pricing) in which fares will vary according to passenger demand.
The proposal for such a system was put forth by cab operators. This new system will be an additional option for passengers who book a taxi and on top of the current metered charges.
This new system will see customers be quoted a flat rate when they book a taxi via the application. Customers can choose whether or not to accept this fare.
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