Perhaps competition is starting to bite. Uber has just announced that it's to cut fare prices in 48 cities across the United States.


The ridesharing service claims to be providing the cuts while still maintaining driver wages, meaning that the reductions will cut right into its margins. But for most residents of those 48 cities—including Miami, Dallas and San Diego—that part probably seems inconsequential. Cheaper rides!


In fact, Uber did a similar thing last January—though only in 24 cities and without the guarantee of driver income. This year, it's focusing on smaller cities it has more recently expanded to—which means that the likes of New York and Chicago are out of luck. The full list is below. [Uber]