What happens to Uber rates when the petrol price increases?

The good news is that despite petrol prices being at record highs in June, Uber’s vast network of taxi cabs will not charge you more for your next trip.

The ride hailing app told BusinessTech that “fares will not be adjusted at this time,” following several months of petrol price hikes to a record highs amid rising oil prices and a weakening rand.

Petrol climbed by 82 cents a litre for both 93 and 05 octane fuel on Wednesday, while diesel increased by 85 cents per litre.

This took the official petrol price up to R15.54 for 93 octane, and R15.79 for 95 octane. Diesel (0.05% sulphur content) hit R14.19.

This is what you currently pay:

Fuel May official June official
95 Petrol R14.97 R15.79
93 Petrol R14.72 R15.54
0.05% Diesel (wholesale) R13.34 R14.19

Samantha Allenberg, Uber spokesperson, said: “We always consider driver economics in each of the cities that they operate in and after years of global experience, what we‘ve seen in cities across the world is that lower fares mean greater demand, lower pickup times and more trips per hour — increasing earning potential and creating better economics for drivers.

“We’re committed to supporting the men and women who drive with Uber across South Africa and we understand that fuel is one of the biggest weekly expenses for drivers which is why drivers can access rewards that help them reduce costs and keep more of their earnings. This exclusive programme provides deals such fuel rebates, cell phone deals, maintenance and health care.”

Uber also provided the following tips to drivers on how to reduce the amount of petrol they use and ultimately increase their profits on Uber.

Read: What is ‘hypermiling’ – and how it can help you save on your petrol bill

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What happens to Uber rates when the petrol price increases?