Watch: Lyft wants to combat surge pricing

Lyft is working on a new feature that could help eliminate the pain of surge pricing.

With Price Lock, Lyft says you’ll be able to pay a monthly fee to cap the price on a specific route at a specific time of day.

So it could be particularly useful for riders who rely on Lyft for their daily commute; on the other hand, it’s not so useful for someone who’s leaving a giant concert and hoping to avoid a hefty price tag when they try to call a car at the same time as everyone else.

Lyft says it’s currently testing the feature across the U.S. and won’t roll out final pricing until next month, but the price should be less than $5 per month. 

Reducing surge pricing has been a big theme from Lyft CEO Dave Risher, who said he’s willing to bet surge pricing is “rideshare’s most hated feature” — though it’s unlikely to go away entirely, because it’s an important tool to ensure there are enough drivers around when there’s a sudden increase in demand.

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