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How are the cost per minute and base fare calculated? What does it contain a ...

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louisr12
15 Rider
 Posted 6 years, 3 months ago
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Louis Rombouts (louisr12)
15 Rider
Ride Apprentice from Madrid

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How are the cost per minute and base fare calculated? What does it contain and how do you calculate it?

The Guru Take

The Guru Take

This article on calculating Uber and Lyft fares might help you understand base fare vs cost per minute and cost per mile!

lilly 1026
RideGuru market data & operations expert
Last updated Aug 09, 2018

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    louisr12
    OP 15 Rider
     6 years ago

    lilly,

    Thanks for the provided article. The thing is I know what contains an uber ride as it comes to fares. I am wondering how they calculate how much the time per minute is or the base fare. As it comes to cost per mile it includes operational costs and depreciation divided by the estimated miles driven. How do they do that for the base fare or cost per minute? What are the cost components here?

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      eForceX77
      113
       6 years ago

      Uber just calculates and set the fares on whatever the drivers are willing to do their for job for.  It's part capitalism.  They don't care how it breaks down.

      They do take a "booking fee", what they used to call the "safety fee".  That is applied on everything, which supposely covers for operational fees like driver background check, support they provide the rider/driver, etc.  Then there's the commissions of like 25% which is assessed on an overall trip.

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      kias_revenge
      133 Rider
       6 years ago

      It's a good question. But I don't think they put that much calculation into the rates. I think it is more market driven and dependent on what the competition is doing. They are losing money after all.

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      RedANT
      1072 Rider Driver
       6 years ago

      I believe that calculation can vary depending on the laws and regulations in the country that you're in.  Your best bet is to contact the rideshare company in your area directly and see if they'll give the information to you.

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