Uber had just released some data comparing them with other transportation options. They are the cheapest option for the trips they shown below with UberX. But do note Uber has a Minimum Fare at $3.50.
Lunch: Raffles Place to Chinatown
UberX: $5
Alternative: $8
Drinks: Orchard to Clarke Quay
UberX: $6
Alternative: $9
To CBD: Tiong Bahru to CBD
UberX: $8
Alternative: $11
Source: Uber
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