Uber and Lyft customers are waiting longer and paying high fares because of a lack of drivers. A lot of rideshare drivers left the business during the pandemic. Since more people are getting vaccinated and feeling more comfortable with going out, the demand for Uber and Lyft has risen.
But it has become more expensive.
A new study shows as more people have received COVID-19 vaccines, Uber and Lyft have each seen dramatic rises in business.
Lyft saw business rise 80% between the first week of 2021 and the last full week of March. Uber's business rose 76 percent over the same time period.
One rider said: "It is now a luxury item. It's not a convenience like it used to be."
Uber and Lyft are trying to get more drivers to get fares and wait time down.
Carolyn McArdle talked about it on the air. Listen below...