The Iran war may make it harder to hail a rideshare
The Iran war has caused gas prices to surge past $4 a gallon in the US, increasing operating costs for rideshare drivers and potentially reducing driver availability. This could lead to longer wait times, higher fares, and reduced service in less busy areas for Uber and Lyft passengers.
Gas prices have surged past $4 a gallon in the US due to the Iran war. Rideshare drivers are feeling the impact, with many reporting shrinking earnings and longer hours. To stay profitable, drivers are selectively accepting rides and relying on tips. The combined effect could reduce driver availability in some markets. Demand shifts may partially offset shortages, but the rideshare market appears to be entering a period of instability. If fuel prices continue rising, a more noticeable contraction in driver availability is likely.
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