Traffic, distance and algorithms: What factors go into rideshare fares?

Users may want to be proactive when using ride-hailing applications like Uber or Lyft , as price discrepancies between the apps themselves and the times and places where you use them can be hefty, according to a new study. A Consumer Reports investigation released Tuesday claims that prices can vary widely for the exact same ride between Uber and Lyft. The report, titled " Different Prices for the Same Ride: How Uber & Lyft Use AI to Get More Money Out of You ," was combatted by both companies, with Uber calling it "flawed ." A CBS California Investigates found similar results, with one of those apps leading the way with better prices. In a CBS LA conference room, eight people loaded ride-hailing apps at the same time with their phones side-by-side. They called five rides from Studio City: to the nearby Sportsman's Lodge, The Grove, the Midnight Mission in downtown Los Angeles, LAX Terminal 3 and the Balboa Pier in Newport Beach. The discrepancies, while small, were there. Often by just a couple of cents, fares differed for some of the participants, even though all factors in the rides were the same. The price difference between Uber and Lyft can itself be dramatic. A ride from Studio City to the Balboa Pier would have been nearly $60 cheaper on Lyft for one CBS investigator. …