By now you've heard that Grab's P2.00 per minute charge is back, and this time with the Land Transportation Franchising and Regulatory Board's (LTFRB) approval. Bummed? Maybe you shouldn't be, because the ride-hailing firm claims its fare structure is still among the lowest in the industry.
In a statement released by the company earlier today to address the return of the time-based charging component in its fare, Grab said its pricing structure is still one of the most affordable compared to other Transport Network Companies (TNC).
"Currently, Grab's fare structure is one of the lowest amongst other TNCs and still cheaper compared to the newly calibrated Taxi fare," the statement reads. "We hope that the reinstatement of the P2.00 per minute travel time component across all TNCs will be the first step in standardizing TNVS fares."
Still, the firm says it understands where commuters are coming from. To help make this pill a little easier to swallow, Grab is temporarily lowering its surge fare from 2.0x to just 1.6x. Trip receipts will now also reflect a breakdown which includes the reintroduced P2.00 per minute.
"We are hopeful that the waiting time and booking experience will improve as we get more drivers back into the platform to serve you."
Cheaper than taxis, huh? Well, the Holiday traffic nightmare is almost upon us, so we'll find out if this is true soon enough.