Trinidad and Tobago Ride Share (TTRS) has announced that it will be increasing fares from Friday.
Speaking to Guardian Media, the company’s executive chairman, Dwight Housend, said it is possible that the prices can be raised again in three months.
“Our truest intention is really not to increase the fare after the 90 days, but it is a low possibility to be fair,” he said.
“We will listen to the market for the next 90 days to see if an adjustment needs to be made, if a subsidy needs to be made anywhere, we will revisit and advise the general public,” Housend added.
When asked if customers can expect the prices to go back down after the 90-day assessment period, Housend said: “It won’t. It’s not stable at the current price.”
TTRS’ minimum fare was raised by three dollars for the regular ride option, while the preferred and regular plus rides were increased by five dollars. TTRS’ charges per kilometre under 20 kilometres were increased by 25 cents, while their cost per minute was raised by 10 cents.
“A trip from Port of Spain to the (Piarco) Airport previously $85 will now be $100 on average,” Housend noted.
Price increases proposed by TT Rideshare, which go into effect on December 9, 2022. [Image courtesy TT Rideshare Facebook]
TT Rideshare
He said they have been calculating the costs for several months, and although they could have increased the fare by 17 per cent, they only raised it by 12 per cent. He added that this was something that could no longer be avoided, and it comes as a relief to some drivers.
“The drivers have voiced a lot to us, and we had to give them an understanding, so we decided to do the analysis over the last few months, and this is the price that we came to, and a lot of people seem to think it’s fair. There are the ones that think it may be a bit insensitive but there is no real good time to raise a fare,” he said.
He said he believes that the price hike is not unreasonable considering the unique and comfortable service that TTRS provides.
“The increase is not that large when you consider that multiple persons can use the vehicles. Singular occupants of the vehicle still prefer convenience and privacy, and at the end of the day, you can’t put a price on convenience,”
On Monday, the company made the announcement and included a breakdown of the fare changes. Since the company’s inception in 2018, this is its first major price hike.
