03:23 PM EST, 11/04/2024 (MT Newswires) -- (Updates with details throughout.)

Uber Technologies ( UBER ) has proposed a 6.1% reduction in how much it pays drivers in New York City to make rides more affordable in light of falling gasoline prices, according to a petition shared with MT Newswires Monday.

The ride-hailing company made the proposal in a letter sent to the city's Taxi and Limousine Commission, which sets minimum driver pay.

If approved, the per-mile base pay rate for NYC drivers would go down to $1.277 from the current $1.360, based on figures in the proposal.

The Taxi and Limousine Commission did not immediately respond to requests for comment from MT Newswires.

Bloomberg earlier reported the story.

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