Grab is one of the transport network companies that are operating in the country. (Image: Grab PH)
Cu further said that price surges are still possible, but they are working to adjust the fares in accordance to circumstances. Cu explained that surge pricing only kicks in if demand is 30% more than supply.
The company recorded a rise of 10 to 15% in bookings in the aftermath of Uber’s suspension. This explains the shortage of rides and results to higher fare prices. However, the surge cap is only temporary and might change to adjust to drivers’ income.