Another price hike - Taxi Fare


Jedi

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Jul 17, 2002
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#1
While some of the members are still kpkb about 30% water price hike, both PTC and LTA jointly announced on the taxi fare hike.

http://www.channelnewsasia.com/news...light-to-introduce-surge-pricing/3603036.html

MAS was very concerned for deflationary in Singapore for the last 2 years. Finally, it will head north with all these hikes.
 

Zenten

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Jun 13, 2004
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#2
The 30 vs 70 rule still applies....... 70℅ deserve what they asked for.......LL .......Majullah!!!!
 

Zenten

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#3
Pay up or else .......take a hike!!!
 

diver-hloc

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#5
Have not taken a Cab for a long long time.... ita either Uber or Grab for me.... whichever is cheapest....
 

#6
While some of the members are still kpkb about 30% water price hike, both PTC and LTA jointly announced on the taxi fare hike.

http://www.channelnewsasia.com/news...light-to-introduce-surge-pricing/3603036.html

MAS was very concerned for deflationary in Singapore for the last 2 years. Finally, it will head north with all these hikes.
It will have little or no effect on general public.

Singapore is a small island. People can choose to walk. :)
 

Zenten

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#7
.........sedikit sedikit, lama-lama jadi bukit ..............
 

Zenten

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#9
Hey..... that not Orchard Towers.............oops......... :embrass:
 

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Zenten

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#10
,,,,,,,,, and people were wondering if he could survive his grand mal ....... he's back and coming after You ...... for your blood.
 

Zenten

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#11
"[FONT=q_serif]Some causes for inflation:[/FONT]

  1. Bad governance: A government that thinks they can spend infinitely.
  2. Supply bottlenecks: Excessive rules or other impediments that prevent entrepreneurs from quickly increasing production.
  3. Global market trouble and supply shock: Such as middle east clashes.
  4. Rent seeking: Setting production quotas and other stupid stuff.

[FONT=q_serif]You can have high growth without inflation. To do that you need to change the road. If the road is not slippery, you might be able to drive really fast without skidding a lot. In the same way, if you can improve infrastructure and work to remove the bottlenecks in production you might be able to manage high growth without inflation."[/FONT]
 

ziggy

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May 24, 2006
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#12
While some of the members are still kpkb about 30% water price hike, both PTC and LTA jointly announced on the taxi fare hike.

http://www.channelnewsasia.com/news...light-to-introduce-surge-pricing/3603036.html

MAS was very concerned for deflationary in Singapore for the last 2 years. Finally, it will head north with all these hikes.
It's surge pricing which is not exactly a fare hike, just a way to smoothen supply and demand at different times. The current taxi surcharges was a previous attempt to accomodate supply and demand, but now it is done digitally like Uber and Grab. The existing metered fares have not changed.

This is a farier and more practical system. When everybody wants a taxi at the same time, and there are not enough, then it is fair that the taxi driver can maximise his earnings by picking passengers who are willing to pay more. When demand is low, with more taxis than passengers, the passenger will select the lowest available.

If it is too expensive, then take other available public transport. It may mean more time and less comfort but one has to decide between speed and comfort vs price and convenience.

What's the point of taxis having the lowest fares but seldom available, like in the past before Uber and Grab?
 

Octarine

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Jan 3, 2008
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#13
This is a farier and more practical system. When everybody wants a taxi at the same time, and there are not enough, then it is fair that the taxi driver can maximise his earnings by picking passengers who are willing to pay more.
Increasing prices in times of high demand (or shortage of supply) is also called profiteering. Do we want to have taxi rides being auctioned like eBay?
I guess, there will be an short term spike when some taxi drivers try to make a fast one with this. Others won't follow, passengers will pick the cheaper taxis and it all returns to normal.
 

Nikonzen

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Nov 3, 2014
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#14
I used to take cabs everywhere everyday despite owning a bad to the bone car. I was single and childless back then. lol

Price increases every where one looks. Next increase will be ministers pay. See how that works? Hahaha NOT funny.
 

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ziggy

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May 24, 2006
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#15
Increasing prices in times of high demand (or shortage of supply) is also called profiteering. Do we want to have taxi rides being auctioned like eBay?
I guess, there will be an short term spike when some taxi drivers try to make a fast one with this. Others won't follow, passengers will pick the cheaper taxis and it all returns to normal.
If more taxis are available during peak, the price will be lower. Uber and Grab have added more supply. If they continue to increase, price surge may become minimal.
 

Zenten

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#17
Sedikit sedikit lama lama .......rakyat Singapura mesti menjual bahagian belakang ...... :what:
 

Yutaka Go

Senior Member
May 22, 2010
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#18
Increasing prices in times of high demand (or shortage of supply) is also called profiteering. Do we want to have taxi rides being auctioned like eBay?
I guess, there will be an short term spike when some taxi drivers try to make a fast one with this. Others won't follow, passengers will pick the cheaper taxis and it all returns to normal.
Hotel rates goes up and down based on supply and demand.
Airline ticket price goes up and down based on supply and demand.
Uber fares goes up and down based on supply and demand.
Now Taxi fare also do the same thing.
You call it profiteering, they call it maximize profit.

Many people will benefit when the price are low.

Now Taxi drivers don't dare to hide until midnight because their customers will be taken by their competitors.
 

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Yappy

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May 30, 2004
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#19
Hotel rates goes up and down based on supply and demand.
Airline ticket price goes up and down based on supply and demand.
Uber fares goes up and down based on supply and demand.
Now Taxi fare also do the same thing.
You call it profiteering, they call it maximize profit.

Many people will benefit when the price are low.

Now Taxi drivers don't dare to hide until midnight because their customers will be taken by their competitors.
We have the airline and now we have the budget airline and also the budget Taxi another player!
 

Octarine

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#20
We have the airline and now we have the budget airline and also the budget Taxi another player!
Exactly, it only needs one player in the market that doesn't follow and targets those who want the cheaper ride home. The airlines invented 'Premium Economy', let's see how premium a taxi ride can become [emoji1]
 

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