Why does the price in Ola/Uber apps change every minute?

Ola and Uber are the leading cab services in India. Both of them are working in a similar business modal. The fare for the ride for the same distance changes every minute depending upon various factors which are as follows -

1. Peak hours - During peak hours fares are generally more because of increased demand for cabs.

2. Weather conditions- When its raining or dance fog then more people will book cabs which also leads to high fares of cabs

3.Location- If you are booking from the airport or railway station then also fares will be increased because these places have more demand for cabs.

4.No. People boarding cabs in your Area: If in your area there are more cabs nearby then prices will be less but if there are fewer cabs nearby and many people are booking cabs then face will be comparatively high.