Ride-hailing app Grab forecasts that it will most likely charge lower fares in February 2020.
According to Grab Philippines president Brian Cu, they expect the demand for rides to drop in February, which will trigger a decrease in the cost of fares.
“With that higher number of people booking the surge went up," Brian said, in an interview on ANC. "If the app sees there is more demand, [a] surge will start kicking in.”
"We expect this to drop by February," he added.
In November 2019, Grab was slapped with up to P23.45 million in fines by antitrust watchdog Philippine Competition Commission (PCC) and was ordered to issue a refund to passengers amounting to a total of P5 million for overcharging.
Customers should receive a P1 refund for every P1,200 spent between February and May 2019, as well as an additional P1 refund for every P450 spent between May and August 2019.
In December 2019, Grab's fares soared due to the high demand caused by the Christmas season, making booking a ride challenging.