Uber, Lyft and Other Rideshare Apps Prep for Busy New Year's Eve

Consumers should beware surge pricing and fare increases on the ride home from their New Year's Eve festivities.
2:03 | 12/30/14

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Transcript for Uber, Lyft and Other Rideshare Apps Prep for Busy New Year's Eve
Go the fireworks and pop goes the champagne. When it's time to go home you might not be celebrating oh it's almost impossible to about 45 minutes to find a ride in years past taxis were the only game in town and they cleaned up it could moneymaker New Year's it is the best night of the year but then came the apps Hoover and lifts I'd say they've taken. At least 50% of the business than 50% of the drivers and I'm like taxis they can raise prices when demand this time over which skyrocketed about ten times the cost of probably what it should have been Hoover calls it slowed pricing lift calls it. Prime time I tend exists basically as in senate to get people out on the road. I mean when people know that it's gonna be higher percentage of prime time then though that RAM it is a giant beast he Lowry is live driver Mika San Felice who says she needs that incentive to put up with the New Year's craziness. One with these beaded bracelets she gives out to passengers she's brought something else this is tea hospital quality. The vomit I'll. I have a feeling it just in case. And you may need one after hearing this for the first time ever lived is raising the cap on prime time rates up to a possible four times the normal fare. Mover will have no cap on search pricing. They released video showing how riders will have to confirm twice that they've seen the high rates and they greeted them they expect the highest demand between one and 2 AM. But there's a wild card in this game flywheel the app specifically for hailing a taxi cabs just announced it may be. She just right in town. No matter where you travel from or two in San Francisco on New Year's Eve it'll cost you exactly ten dollars this is our lacing a thank you to both are consumers. As well as our drivers flywheel just raced twelve million dollars in venture capital and some of it is going to this while you pay ten dollars they pay cabbies double the fare on the meter. An incentive to give rides through the gap instead of fighting fares on the street. Even want to lift driver told us he could. If they're the best deal. I mean I totally understand it was to take the best deal possible that I in San Francisco Jonathan bloom ABC 7 NEWS.

This transcript has been automatically generated and may not be 100% accurate.

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