Uber just got cheaper in New York City

The base fare for the company’s UberX service has dropped from $3 to $2.55, and the per minute rate has dropped from $0.40 to $0.35, while the mile rate has dropped from $2.15 to $1.75.

According to the report, riders could see a savings up to 19 percent.

You can find more of the math behind the new rate drops over at Uber’s website.

Now, a ride from Midtown to La Guardia Airport that would have cost $43.67 will cost $37.12 – and a ride from Chelsea to the East Village that used to cost $13.18 will cost $11.20, said the company. The cuts have already started in some cities, but will extend to all planned areas by today.

The cuts also are dependent on results; if they don’t cause demand to spike, Uber might tweak rates or even get rid of the discounts altogether.

Desai said the financial benefits to drivers remains unproved. But remember, that’s not the take-home for drivers.

“If it’s going to be cheaper, for sure”, said 25-year-old Cody Alt of Brooklyn. We’re in the thick of winter, with many New Yorkers either out for vacation or opting to stay in to save themselves from the cold and snow. “They’re putting drivers in poverty wages just so they can try to monopolize taxi service”.

Regular cabs do not set their own prices.

While this is great news for the many Uber users in NYC, it’s not so great for taxi drivers who continue to face growing competition from the private company.