Not content with disrupting the taxi cab industry by simply existing, towncar-hailing app Uber has dropped prices on their uberX hybrid car rides to further undercut the local taxi industry by matching their fares.

Although cab fares in San Francisco are among the country's highest at $3.50 just for a flag drop and $0.55 for every fifth of a mile after that, Uber's service — which has been viewed as premium service until now — is suddenly in line with the fares you'll get when hailing a cab off the street. As opposed to the black towncars or SUVs Uber has become known for, the uberX fleet consists of hybrid sedans, and in our experience drivers can still be kind of hit-or-miss. (Like our driver a few months back who got completely lost in Bernal Hill.)

Still, in a blog post Uber is pretty clear about their aggressive move:

uberX at cheaper-than-taxi pricing means never, ever waiting for a bus in the rain or walking alone at night. It means $8 from FiDi to AT&T Park, $15 from the Marina to the Mission, and $50 from North Beach to SFO. It means a single, cost-effective solution for dependable pickups in minutes, 24 hours a day, all over the Bay.

We should note that Uber's "cheaper-than-taxi" claim only applies to when you hail a taxi through their app which adds a 20% tip and $1 service fee to the fare on the meter. One caveat: there's an $8 minimum on uberX.

Previously: All Uber coverage on SFist
[Uber]
[Yellow Cab]