Uber Technologies Inc. is proposing a reduction in the minimum pay rate for New York City drivers, citing the recent decline in gasoline prices. The company plans to request the city’s Taxi and Limousine Commission to lower the per-mile compensation from $1.360 to $1.277, a decrease of approximately 6.1%. Uber argues that this adjustment is necessary to ensure ride prices remain affordable and to stimulate demand amid a slowdown in its rideshare business. Additionally, while the proposal does not seek changes to the per-minute rate, it calls for a future cap on inflation-related adjustments.
