SAN FRANCISCO, Jan. 9 (UPI) -- Uber announced price cuts in cities across the United States and Canada in response to a seasonal decrease in demand.
The company announced they will cut prices in 100 cities in the U.S. and Canada starting on Saturday.
"Five and a half years in, we've learned that the single most effective way to boost demand during the winter slump is to cut prices for riders," the company said.
Bloomberg Business reports that prices will drop by 10 percent in Los Angeles and San Francisco, 15 percent in Richmond, Va. and 20 percent in Houston while prices in New York and Chicago will remain unchanged for the time being.
The price cuts are set to last indefinitely, with Uber promising guaranteed earnings to drivers who have been active in the system on or before Jan. 8 and have accepted 90 percent of ride requests.
According to the blog post, 2016 marks the third year some cities will see January price cuts.