It's zone 3 and beyond where uber really works out better, but there aren't usually many black cabs there anyway. Yes, uber is 99% cheaper than black cabs. Only during peak hours when uber has increased prices you might be at the same price (more or less) sometimes. But other than that uber is generally much cheaper.

In the vast majority of scenarios, Uber is cheaper than a London black cab, especially for longer journeys. Black cabs use a regulated meter system where the fare increases based on both distance and time; in heavy traffic, the price can skyrocket. Uber uses an upfront pricing model which is typically 20% to 40% lower than a taxi for the same distance. However, black cabs have several "hidden" advantages: they are allowed to use dedicated bus lanes, which can save you significant time during rush hour, and they do not use "Surge Pricing." During peak times, rain, or major events, Uber prices can double or triple, making the metered black cab the more economical (and faster) choice. Additionally, black cabs can be hailed instantly on the street, whereas Uber requires a wait for a driver to arrive. For a budget-conscious traveler, the best strategy is to use the Bolt or Uber app for standard trips, but keep an eye on the street for a black cab when the app shows a high "surge" multiplier.