Uber is set to raise prices by 10% in London, the first price hike since 2017.
As of today, (11 November) prices will rise by 10% across greater London, with the minimum fare in the capital will increase from £5 to £5.50, while per-minute and per-mile rates will also increase by 10%.
Airport passengers will be dealt an even harsher deal, with “peak time” fares to Heathrow and Gatwick increasing by an extra 15% on top of the 10% blanket rise.
The price hikes are in order to lure drivers back to the ridesharing company after thousands abandoned driving for the app during the UK lockdown, according to the Evening Standard.
Uber will continue to take a 25% cut of all trips.
This driver shortage has also led to a widespread increase in surge pricing, which can see standard fares double due to a lack of supply. Wait times have also increased dramatically.
Uber has announced plans to attract 20,000 more drivers back to the app in order to meet passenger demand and bring down surge pricing. It would also help prevent customers (and existing drivers) from using rival ridesharing apps, such as Bolt, to try and find the quickest route home and cancelling the slower service.
An Uber spokesperson said: “We’re making these changes to help provide a better rider experience, by signing up more drivers to meet the growing demand.
“We know people rely on Uber to book a safe trip around London and this small fare increase will help reduce wait times. As always riders will get a fare estimate before booking their journey.”
