Presumably this is intentional -- Uber could raise prices and make more money, but right now they're choosing to keep prices very low in order to undercut Lyft and the cab companies with the assumption that having a monopoly will return more profits in the future.
At least anecdotally, here in SF Lyft is almost always more expensive than Uber.
At least anecdotally, here in SF Lyft is almost always more expensive than Uber.