Uber (lyft) keep raising their prices study finds!

Image Credit:Photo by freestocks.org from Pexels

Third-Party Posts

Summary

Opening the Uber and Lyft ride-hailing apps can be shocking these days.

If you haven’t requested a ride since before the pandemic, you’ll notice much higher prices for the same rides. Based on data collected by analytics firm Rakuten, U.S. ride-hailing fares were 50 percent higher in July 2021 than they were in Jan. 2020, before COVID restrictions went into effect.

Wall Street Journal analysis shows that ride prices from the beginning of 2021 have been inching up each month, even as more people are vaccinated. A similar report on higher-than-usual fares from earlier in the year (passenger costs were up 40 percent in April) mostly blamed the issue on a driver shortage.

But now, a few months later, Uber CEO Dara Khosrowshahi said during his company’s July earnings call that there was a 30 percent increase of drivers on Uber in July compared to June. In a separate earnings call, Lyft execs said the San Francisco-based company saw the same trend, with more drivers in July compared to June. It’s not enough.

  • Source: Mashable
  • August 9, 2021
Read Full Story

Leave A Comment

Recommended For You