Uber Just Cut Prices In 48 Cities, But Guarantees Its Drivers Will Make More

Uber is also making earnings guarantees for drivers in these cities, which include Austin, San Diego, and Miami. "We feel that it is important for drivers to have this kind of certainty and comfort going into a price cut," the company said.

In fall 2014, some Uber drivers in New York City protested previous rounds of Uber price cuts and said they hurt their earnings.

The blog post cites its Chicago market. There, Uber customers are paying less per ride, but drivers' earnings have increased.

"The upside for the rider is obvious, but also important is that with the increased demand, drivers' income goes up as well," the blog post says. "More demand turns into significantly more efficiency for the driver, more trips for every hour, and more earnings for every hour on the road."

You can read the full announcement over on Uber's blog.