Surge pricing, please don’t turn into a scourge | The New Paper

Dynamic pricing for taxis may lead to fewer cabbies plying the road for flag-down customers

So it looks like nothing is standing in the way of taxi companies imposing their version of “surge pricing” on customers.

Last Friday, the Public Transport Council (PTC) and the Land Transport Authority (LTA) issued a statement saying they had “no objections” to the proposals by taxi companies to impose what they termed “dynamic pricing”.

Surge pricing, a system used by private car-sharing apps such as Uber and Grab, adjusts fares according to passenger demand in a particular area at a particular time.

Taxi companies had applied to the PTC to be allowed to introduce such fare pricing on bookings made on mobile apps.

Read complete article here:

Surge pricing, please don’t turn into a scourge, Latest Singapore News – The New Paper.