Late-night ‘golden hour’ when taxis are cheaper than Uber

They were the ride-sharing company that shook the taxi industry but now it seems the tables may have turned.

While Uber is popular for their cheaper fares compared to many taxi companies in major cities across the country, there is a peak time where the roles have swapped.

The late-night ‘golden hour’ when taxis become cheaper than the popular ride-sharing company is between 11pm and 1am in Melbourne, according to The Herald Sun.

The late-night ‘golden hour’ when taxis become cheaper than the popular ride-sharing company is between 11pm and 1am, according to The Herald Sun (stock image)

And customers won’t just save a few pennies by opting for a taxi during the ‘golden hour’, with Uber’s prices more than double that of their competitors in Victoria.

During the two hour period, the publication found party goers were paying up to $40 more for an Uber compared to a taxi.

The fare surge comes just days after Taxify, another ride-sharing company, was launched in Sydney.

The newest company to shake up the Australian market, which already operates in 20 countries across the globe, is offering half-price fares for the month.

During the two hour period, the publication found party goers were paying up to $40 more for an Uber compared to a taxi (stock image)

With busy party nights ahead including New Years Eve, an Uber spokesman told the publication the more drivers they get on the road, the lower the fares will be during the peak times. 

And if you would rather spend your hard earned cash on another glass of bubbles instead of a ride home this New Years Eve, avoid using Uber between midnight and 3am when their fares are at their highest. 

Daily Mail Australia have contacted Uber Australia for comment.