The Clap
Uber (NYSE: UBER) & Lyft (NASDAQ: LYFT) recently announced additional gas charges to riders to compensate drivers for the sky-high gas prices, & drivers are not liking it.
The deets
Both companies added gas charges in the range of $0.35-$0.55. Drivers have found it too little, considering there are “rides that are two minutes long and then you have rides that are an hour-long”.
A recent survey showed 90% of drivers agreed the additional charges were not sufficient. Another survey showed that about 15% of drivers already quit driving & almost 40% were driving less.
What’s interesting is..
..both companies are reporting rising active drivers on their platform due to people returning to offices, rides to the airport picking up, & nightlife coming back to life.
