Uber 'surge' hangover: $500 for a 20-minute cab ride?
Uber warned on its website that New Year’s Eve customers should not be surprised by “surge pricing” due to the high holiday demand.
And, yet, many were. Actually, “surprised” is probably not the word. Maybe “shocked” is more like it, for customers who ended up paying nearly 10 times the normal rate for a ride. Uber defends surge pricing this year, just as it has in the past, noting that it’s the simple economics of supply and demand driving the rates.