Ride-hailing service Grab is likely to charge cheaper fares in February due to the expected decrease in demand after the holiday season, said its president on Thursday.
Advertisement Grab Philippines President Brian Cu said that an explosion of passengers booking on their app was observed in December 2019, which contributed to a recent surge in their fare.
The higher the number of people booking the spike went up. If the app sees that there is more interest, the surge will start kicking in.
In December, Grab faced fines of P16.15 million—P14.15 million for its deviation from its pricing commitment, and P2 million for exceeding driver cancelations at 7.76 percent above its 5 percent commitment.