Competition Committee warns Yandex Go of steep price hikes
The Competition Committee Issues Warning to Yandex Go Over Taxi Fare Price Hikes
The Competition Committee has officially issued a warning to Yandex Go after a significant increase in taxi fare prices on its platform. Consumers raised concerns over the sharp price hikes, prompting the regulatory body to launch an investigation.
Recent monitoring of service prices on Yandex Go revealed a sudden surge in taxi fares during the first ten days of December. This unexpected price fluctuation has sparked complaints from consumers, leading to the intervention of the Competition Committee.
In accordance with the “Competition Law” of Uzbekistan, companies with a dominant market position are prohibited from exploiting their power by setting excessively high prices. The Competition Committee has highlighted that such actions could potentially breach the law, as monopolistic entities are not allowed to unfairly manipulate prices.
As a result, the Competition Committee has warned Yandex Go to lower its taxi fares and reassess its pricing algorithm. The regulatory body has emphasized that any further violations may result in additional measures being taken against the company.
Yandex Go has been instructed to ensure that its pricing practices comply with the legal framework and promote fair competition within the market. It remains to be seen how the company will respond to the warning and whether it will make the necessary adjustments to address the concerns raised by the Competition Committee.
