SMRT, Premier, Trans-Cab and HDT Singapore Taxi will be launching a new taxi pricing by the end of this week.  The new system uses the dynamic pricing system, which is a flat rate to the destination which the passengers are going.  This is the same price structuring as the independent driver operations like Uber and Grab Taxi.

credits: Straits times

The current taxi fare structure is very complicated especially with all the extra surcharge, calculations are quite unclear and difficult to comprehend.  This is especially so when you are in the rush and forget about the time factor.  Your fare might just plummet.

With this new structure, ride-hailing apps uses the algorithm to calculate fares and commuters are only informed about the standard fare when they book their taxi.  Charges are actually based on the demand during the period.  However, for the commuters, it might be less transparent as they will not know what is the actual algorithm behind the structure.

More info: http://www.straitstimes.com/singapore/transport/dynamic-fares-in-the-works-at-4-taxi-companies-what-you-need-to-know