Here's how the rates compare between Uber, Lyft, and taxis in Vancouver

After the provincial Passenger Transportation Board (PTB) announced its official approval for ride-hailing operators Uber and Lyft in the province last week, both companies quickly began operations on Friday.

And as both companies hit the roads, the pricing structure for the operators was revealed as well.

Uber announced that for its customers, there will be a base booking fee of $2 and a base fee of $2.50, for a total of $4.50. The per-kilometre rate is 70 cents, and the per-minute rate is 33 cents.

For Lyft, there will be a base booking fee of $2.50 and a service fee of $2.50, for a total of $5. The per-kilometre rate will be 65 cents, and the per-minute rate will be 33 cents.

That being said, both companies also have the ability to charge surge pricing, meaning higher rates during peak-travel periods.

In addition, the city has already established a business licence structure of annual fees of $155 per ride-hailing company and $100 per vehicle, plus 30 cent pick-up and drop-off fees within the downtown Vancouver peninsula and Central Broadway Corridor.

• See also:
  • Uber and Lyft have both now launched in Vancouver
  • Here’s how much it will cost to take Uber and Lyft in Vancouver
  • Lyft and Uber respond to PTB’s approval to operate in BC
  • City of Vancouver to approve licences TODAY for Lyft and Uber to operate
  • BC government says it “delivered” on rideshare promise
  • “I might cry”: Vancouverites react to FINALLY receiving rideshare

In contrast, three of Vancouver’s taxi companies charge similar rates with one another across the board.

Bonny’s Taxi charges an initial flag fare of $3.35, with a rate of $1.93 per hour. Yellow Cab charges an initial flag fare of $3.25, which includes the first 1/13th km. After that, the rate is $1.88 per km. This is similar to Vancouver Taxi’s pricing structure, which charges an initial flag fare of $3.25, which includes the first 1/13th km. After that, the rate is $1.84 per km.