An empty Lyft pick-up space is proven as rideshare drivers maintain a rally as a part of a statewide day of motion to demand that ride-hailing firms Uber and Lyft comply with California legislation and grant drivers “fundamental worker rights”, in Los Angeles, California, U.S., August 20, 2020. REUTERS/Mike Blake
March 21 (Reuters) – Lyft Inc’s (LYFT.O) Lyft Direct cardholders will obtain a rise in cashback rewards of 4% to five% on buy of gasoline till June 30, the ride-hailing agency stated on Monday, its newest transfer to retain drivers amid an increase in gasoline costs.
Chief Government Officer Marco Margiotta stated the upper cashback in partnership with fintech firm Payfare (PAY.TO) will assist drivers keep on the highway and “ease the ache of rising fuel costs.”
Costs for gasoline have soared greater than 20% from final month, in keeping with the American Car Affiliation, pushed by increased crude oil charges because of the Russian invasion of Ukraine.
The corporate stated Lyft Direct cardholders can save as much as 21 cents per gallon on common with the elevated cashback.
Uber (UBER.N) and Lyft drivers have thought of quitting the app-based ride-hailing platforms as fueling up turns into costlier.
Each the platforms over the previous few months have been investing in maintaining drivers and bringing in additional to fulfill rising demand as COVID-19 instances ease and shoppers enterprise out.
In response to file fuel costs, the businesses earlier this month introduced a 55-cent per-ride surcharge that might be paid on to drivers. learn extra
Reporting by Akash Sriram in Bengaluru; Modifying by Maju Samuel
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