Uber says it's raising prices on its dockless e-bike fleet in several US cities

Jump Bike

• Uber is raising prices on its Jump dockless electric bikes in several cities.
• An hourlong ride on a Jump bike In Providence, Rhode Island, used to cost $4.10. Under the new pricing structure, it costs $18.

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It's going to cost more money to use Uber's dockless electric Jump bikes in several cities across the US.

The pricing equation for Jump bikes varies by city. Initially, in Providence, Rhode Island, the e-bikes cost $2 to unlock, with the first 30 minutes free. The charge was seven cents per minute after that. Now the bikes are free to unlock, but users have to pay 30 cents per-minute from the start.

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An hour ride originally costed $4.10. Now, it's $18.

Pricing has also gone up in other cities like Los Angeles where Jump prices went from 15 cents to 30 cents per minute. In Denver, the price climbed from 15 cents per minute to 25 cents per minute.

This price increase comes just months after Uber went public in one of the biggest tech IPOs on record.

"We want to build a viable e-bike and e-scooter operation that allows us to serve riders for years to come," an Uber spokesperson said in an emailed statement.

"To support that we have introduced new pricing in our cities that brings us in line with the market so we can continue to deliver clean and reliable bikes and scooters with a sustainable business model."

Uber said it has a plan to help low-income customers with the cost. The "Boost Plan" gives members 60 minutes of daily ride time for $5 per month. However, in order to enroll, riders must provide documentation to prove their eligibility.