Sorry, Ald. Beale. Regulating Uber and Lyft surge pricing would hurt consumers. | Chicago Tribune

On the morning of Aug. 15, thousands of Red, Brown and Purple line commuters were left stranded after a dead body was found on the elevated tracks near the Fullerton station. Those who were able to summon Uber or Lyft cars on their smartphones were, in some cases, reportedly charged more than $100 for rides downtown that normally would have cost about $13.

These price bumps are a feature of ride-hailing services, not a bug. By increasing fares at times and in places of heavy demand, the services attract extra drivers to the area, thus increasing transportation options.

Of course, customers complain about it. No one likes to feel gouged, even when using a service that probably wouldn’t otherwise be available were it not for the jacked-up rates.

Yet, outside of situations involving life-threatening emergencies, there’s nothing immoral about charging what people are willing to pay for products and services. And there shouldn’t be anything illegal about it, either.

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Sorry, Ald. Beale. Regulating Uber and Lyft surge pricing would hurt consumers. – Chicago Tribune.