Taxi drivers spoke out Friday against Uber's decision to slash fares.

Uber drivers and other members of the industry gathered at rally outside the company's headquarters in Queens to protest a 15 percent price cut, calling on Uber to stop taking advantage of drivers.

As of Friday, the base fare for an UberX dropped from $3 to $2.55. The per-mile rate now stands at $1.75, while the per-minute rate dropped to 35 cents. To put that into perspective, a ride from Midtown to LaGuardia will now run you around $37, down from almost $44.

While the price cut means Uber and its drivers are making less per ride, the company expects that to be offset.

"This is going to make it more affordable for riders throughout New York City, and drivers on the platform will be busier because of it and hopefully earn more per hour than they were before the price cut," said Josh Mohrer, general manager of Uber NY.

"They want to pit drivers against each other, and in this race to the bottom, no driver wins," said Bhairavi Desai, executive director of the Taxi Workers Alliance. "It's only Uber that would be looking to increase its profits, and it's doing it at the expense of hard-working people."

Regular cabs do not set their own prices. The Taxi and Limousine Commission decides those fares.