TT RideShare – one of the country's most popular transport services – says after "extensive analysis and review of the ridesharing market," it has decided to increase its fees.
In an e-mail sent to the users of its mobile application, the company said the new fees will take effect from December 9.
It said since its launch in 2018, there have been multiple increases in local gas prices, with "little change to our fare structure...
"Over the years we have subsidised driver earns through various driver incentive programmes to maintain the affordability of rides while maintaining fairness and equitable earnings for our driver partners.
"Incentive programmes have worked very well to encourage productivity and augment driver turnout. However, the feedback received from our driver partners is very important and we are cognisant of the challenges faced within the industry."
The base fare for regular drivers will move from $12 to $16, from $20 to $22 for preferred drivers, and from $20 to 22 for regular plus.
When it comes to the minimum fares, these will move from $25 to $28 (regular), $35 to $40 (preferred) and $35 to $40 (regular plus).
Regular drivers will now charge $1.10 per minute of travel, $1.60 per minute for preferred and $1.85 for regular plus. Regular drivers will also now charge $1.75 per km, $2.25 for preferred and $2.20 for regular plus.
For distances over 20km, the new rates will be $1.10 per minute and $3 per km for regular, $1.65 per minute and $3 per km for preferred, and $1.80 per minute and $3 per km for regular plus.
The company said it hopes the new fare structure will ease the burdens its drivers "incrementally shouldered, yet still maintaining an affordable and efficient service to our valued riders."
It added that it will be "closely monitoring" feedback from customers and assessing the market over the next 90 days.
