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Aussies warned of 88% price surge: ‘Check your options’

A person opening the door of a rideshare car and a person holding $50 notes to represent price surges for rideshare vehicles.
Rideshare prices are set t surge today thanks to the Melbourne Cup. (Source: Getty)

Aussies hitting the races for the Melbourne Cup today are being warned not to tackle the odds on transport to and from Flemington Racecourse, with price surges for rideshares expected to go through the roof.

Data from rideshare comparison app Placie, found prices surged 88 per cent over Derby Day weekend and the same was expected in Melbourne today.

The culmination of the Melbourne Spring Racing Carnival, follows two disruptive years that severely limited crowd attendance at major sporting events across the calendar.

So, this year, spirits are high as the Melbourne Cup prepares to welcome back racegoers at full capacity.

Placie urged caution in anticipation of surges in demand for and prices of rideshare and taxi services.

In recent years, spectator attendance at Flemington Racecourse has exceeded 100,000 people.

To understand what this could mean for racegoers, Placie analysed aggregate data collected via the app across a series of major spectator events this year.

“There are a huge number of factors that define rideshare pricing,” Placie head of growth Candace Ngok said.

“Commonly, big events and bad weather will drive up demand and, therefore, costs for consumers.”

Ngok said the data from Derby Day found, on average, rideshare prices were up by 88 per cent and hit a peak of 119 per cent during the busiest period.

“However, it’s important to note that some providers were above average, while others saw no price surging at all,” she said.

Ngok said the providers offering the best prices could change from minute to minute, so consumers should consider shopping around before booking a ride.

“We expect similar, if not greater, price variation for the Melbourne Cup, so savvy racegoers should check their options before booking their travel to the race ground to find the right options for them,” Ngok said.

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