Uber, Lyft and other rideshare apps expect busy New Year's Eve

FRESNO, Calif (KFSN) -- The busiest night of the year for ridesharing companies means pricey fares for riders.

"They hit the request I receive the signal, I accept and we take off," said Uber driver Lorenzo Rodriguez.

It's the new way to get around town. With the tap of an app on your smartphone, a driver in their own car comes to your GPS mapped location. And on busy nights like New Year's Eve, Lyft drivers like Kristy Crisp knows it'll be worth skipping out on the festivities, thanks to surge pricing. It can go up to 400% of the fare for Lyft. Companies like Lyft and Uber justify the increase in price, to encourage drivers to work.

"It will always notify you before you accept the ride and tell you hey there's 25-percent prime time right now which means if you accept there's going to be a 25-percent tip added on to your fare," said Crisp.

Unlike Lyft, Uber doesn't have a cap on their price surges. Lorenzo Rodriguez drives for both Lyft and Uber -- and says the best way to avoid getting an outrageous fare -- is stay in contact with a driver you like.

"Work with a driver and set a prearranged time to be picked up as opposed to waiting when the demand is high," said Rodriguez.

Uber estimates they'll make $100 Million in revenue just on New Year's Eve.