Over the years, the rideshare industry has become increasingly popular. Across the globe, many people use apps like Lyft and Uber to run errands and otherwise get to the places they need to be.
During the height of the coronavirus pandemic, the rideshare industry took a hit. Amid shutdowns and stay-at-home orders, fewer people were in the position to travel or use services like Lyft and Uber; others simply didn’t feel comfortable enough to ride or drive.
Here in America, the economy is progressively working on a comeback; however, there are still some bumps in the road. The rideshare industry, while active, is taking a hit, amid driver shortages.
The current shortage in drivers has thus caused rideshare prices to go up.
The rise in rideshare prices across the United States
Per a Rakuten study, the prices for Lyft and Uber have spiked by as much as 40%. However, large cities such as Chicago, New York, and Los Angeles are getting hit the hardest by higher prices.
Amid the rise of travel and the boom of the hospitality industry, a greater demand for rideshare exists. However, the demand for Uber and Lyft rides is currently outpacing the supply of drivers; therefore, prices have gone up.
