That’s a big change from the usual 2X pricing before
Folks tired of higher pricing on Grab’s platform can breath a sigh of relief, at least temporarily, as the LTFRB has ordered the ride-hailing app to drop its surge pricing from 2X to just 1.5X.
The move comes at a time where Grab has a virtual monopoly on the ride-sharing market, as Uber sold its Southeast Asian business to its competitor.
LTFRB’s Aileen Lazada said that the fare reduction is to keep prices during rush hour reasonable while the government agency is processing the papers of Grab’s future competitors in the country.
Earlier this month Uber finalized its deal with Grab, which sees the former relinquish its Southeast Asian operations to the latter in exchange for a 27.5% stake in the company. It’s the third time that Uber has made such a deal, following their exit in China and Russia, selling its operations to Didi and YanDex, respectively.
The PCC has ordered Uber to keep its operations going after the April 8 deadline that Uber set, though Uber has repeatedly said that it no longer has the manpower to keep things going.