Amid the ongoing debate on this matter, two Singapore recently took to the national broadsheet’s forum, with one firmly supporting it and another just as firmly rejecting the practice.
“But today, even as private ride-hailing capacity far outnumbers taxi capacity, surge pricing often reaches ridiculous levels with no real regulatory cap on it,” he wrote. A Mr Lau Wai Kwok, on the other hand, said from the get-go that he does not believe there should be regulations or bans on surge pricing, although he admitted that it’s a practice that people detest.
“As the multiple rises, the market goes to work. Higher fares ration available cars according to consumers’ willingness to pay: to richer ones, in some cases, but also to those less able to wait out the surge period or with fewer good alternatives.”Ryde faced with 2,000 phantom bookings from 300 fake accounts, IP addresses linked to ‘Grabtaxi Pte Ltd’