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Image credit: AP Photo/Mary Altaffer, File

Uber's price cuts arrive for New York City passengers

Fares will cost 15 percent less starting today.

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Image: AP Photo/Mary Altaffer, File

Uber announced price cuts to encourage riders to use the service during the winter months a few weeks ago. Today, the price drop is hitting New York City. Passengers in the Big Apple can expect fares to drop by about 15 percent. For example, getting from Bay Ridge to Sunset park used to cost $10.54 with UberX, and now it'll set you back $8.96. The minimum fare is also reduced from $8 to $7 and other Uber options, like the SUVs on UberXL, are seeing a price drop as well.

Uber's chief competitor Lyft announced a price reduction of its own earlier this month. It only cut prices in 33 cities, though, leaving NYC and DC with the regular rate. With today's pricing change, Uber is now the more affordable of the two in New York City. As the pricing wars continue, we expect Lyft to fire back soon enough.

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