Fox News contributor Liz Peek says she expects the rise in gas prices due to the Iran conflict to be a short-term problem for ‘The Bottom Line.’
Lyft is launching a program to help its drivers across the US as rising gas prices continue to eat into earnings.
The company announced Wednesday that the 60-day program will begin March 27 and run through May 26. Drivers can get cash back and save on gas when they use a Lyft Direct debit card at participating gas stations nationwide.
“Gas prices have dropped significantly over the past few weeks, and we know that’s taking a toll on drivers who rely on driving for income,” Lyft said in a statement. “If the cost fluctuates, we know the aid issues.”
LAX ALLOWS RIDESHARE FEE THAT COULD PUSH UBER AND LYFT FARES TOO MUCH
Lyft’s program will begin on March 27 and continue until May 26. (David Paul Morris/Bloomberg via Getty Images)
The program gives high-level drivers 2% more fuel, while middle-level drivers get 1%. These benefits are cumulative on top of existing rewards, which can be up to 10% depending on the driver’s status.
Drivers can save an additional 14 cents per gallon through Lyft’s partnership with the Upside app with the option to redeem points for additional discounts.
Overall, Lyft estimates that the total savings could reach 98 cents per gallon for its best-performing drivers based on average US gas prices of $3.97.
LYFT WILL INTRODUCE A PROGRAM FOR SENIOR RIDERS LATER THIS YEAR
Sign up for Lyft and Uber services at San Francisco International Airport in San Francisco, California. (Smith Collection/Gado/Getty Images)
As of Wednesday, gas prices have increased to about $3.98 per gallon, according to AAA.
“Drivers are feeling the cost of rising gas prices, which is impacting their savings,” said Yuko Yamazaki, Lyft’s vice president and head of drivers, in a statement. “If costs go up, we want drivers to choose Lyft because they feel the platform is working for them, not against them.”
Gas prices have risen more than 30% in recent weeks, due to global energy disruptions linked to the conflict involving Iran, according to Reuters.
UBER ROLLS OUT NEW APP FEATURES TO MAKE TRAVEL EASIER FOR SENIORS
A Lyft driver passes through the Second Street Tunnel in downtown Los Angeles. (Bing Guan/Reuters)
Lyft also noted that drivers who use electric vehicles can access different charging incentives.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The move follows a similar announcement from DoorDash earlier this week.
Its program, which runs through April 26, includes cash-back incentives and weekly payments to help lower fuel costs for active Dashers.
Amanda Macias of FOX Business contributed to this report.
