Good news for drivers, bad news for riders: Uber is raising prices in Silicon Valley

Great news for Silicon Valley drivers: Uber is raising its prices.

Bad news for Silicon Valley riders: Uber is raising its prices.

Uber users in this approximate area will now see UberPool, UberX and UberXL fare increases of 20%:

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Here is a summary of the fare increases for Silicon Valley and South Bay that Uber announced today in an email:

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This increase bumps the fares above the prices of nearby San Francisco.

San Francisco prices:

screen-shot-2016-11-16-at-6-43-51-pm

Silicon Valley/South Bay prices:

screen-shot-2016-11-16-at-6-41-20-pm

This increase generally matches the rates of Lyft in Silicon Valley:

screen-shot-2016-11-16-at-7-10-04-pm

Like the housing prices, these ride-share prices are about double that of Orlando, as an example:

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But it’s all quite a bit cheaper than New York City:

screen-shot-2016-11-16-at-7-18-25-pm

I got a little carried away with my fare comparisons there(here’s the site if you want to do your own comparing), but bottom line: the fare increase won’t be noticeable to most Uber users, but could be helpful to many Uber drivers, so I’m a fan.

Here’s an example of a 12-mile ride estimate in Uber’s new app design with the new prices:

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This fare increase comes after aggressive price drops as Uber tried to defeat its competitor Lyft, including a price cut early this year that angered many drivers.

I post about Uber and Lyft quite a bit, so check out my Topics page if you’re interested in more posts.

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