Uber’s Reimbursement Rates Haven’t Increased
US and Syracuse Gas Prices from 2020 till 2022 , GasBuddy.com
Uber Blog #10
Uber's per minute and per mile reimbursement rates in Syracuse haven't increased in 2 years.
First Uber in 2020
Last night in 2022
I was reimbursed $0.67 per mile and $0.15 per minute on my first Uber ride on 21 February 2020. My last ride on 28 February 2022 had the same reimbursement rates. During that time, Local gas prices have increased from $2.50 to $3.70 per gallon. Also, New York State's minimum wage has increased 12% from $11.80 to $13.20 per hour.
March 2020 was the beginning of COVID, and gas prices decreased to around $2.00 per gallon. However, since November 2020, gas prices have steadily increased 85%. Also, the United States has had 4.8% inflation, the worst in 40 years. And the auto industry might be the most impacted by inflation.
To credit Uber, they have increased the Syracuse minimum fare 14% from $3.66 to $4.18 per ride. Also, with surges and promotions, my total earnings per hour have increased about 8%, from an average of $25 to $27. Thankfully I nearly tripled my miles-per-gallon selling my gas-guzzling Avalon to gas-sipping Prius Prime earlier this year.
But increased income and savings do not cover the overall cost of inflation.
For now, I'm not worried; Uber seems to want drivers to be in the market. And I can make enough money. But there is a growing online chorus of drivers wanting Uber to increase fares. My wild-ass guess is the $4.50 is the breaking point where drivers will stop if they don't get more. I assume Uber's algorithm knows the actual number.
We all need to wait and see if wars, inflation, and COVID subside and our economy gets back to a state of normalcy.