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Home » I’m an ex-Wall Street trader who drives for Uber and Lyft. Gas prices have me rethinking which trips I take.
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I’m an ex-Wall Street trader who drives for Uber and Lyft. Gas prices have me rethinking which trips I take.

News RoomNews RoomApril 18, 202614 ViewsNo Comments
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This as-told-to essay is based on a conversation with Bill Lewis, a ride-hailing driver who lives in Pennsylvania. The interview has been edited for length and clarity.

I live in the Poconos. I used to commute to New York City from here. I was a trader on stock exchanges for 25 years.

I started as a clerk and worked my way up. When the algorithms took over the floor, they laid us off. Now, I’m dealing with algorithms again as a driver.

I drive for Uber and Lyft absolutely full time — seven days a week, about 75 hours a week. People from out of town need rides, especially on weekends during the summer, but for the most part, I’m taking the same people to work each day.

I take between 22 and 28 rides a day. Sometimes, I do long rides to the Allentown airport, but for the most part, I’m within 25 miles of my house every day.

Gas is always a huge expense for me. I drive a Prius, but I still fill up six to seven times a week. Before the war in Iran started, a fill-up cost me about $22. Today, it cost me $31 for the same exact tank.

I’ve changed my driving habits to try to save money.

Some of my rides take me far out of town to remote places where I might not get a ride back toward home. Now, those trips aren’t worth it, because it’s going to cost me more in gas to get back into town and claim another ride.

I’ve also started taking back roads when I can. The highway might be four or five minutes quicker, but in my area, taking smaller roads is often more direct and saves miles. If I can save on gas, that adds up after a while.

I hope the ride-hailing apps add a gas surcharge to help drivers cover higher costs. That’s what they did four years ago when gas prices went up after Russia invaded Ukraine — they charged passengers an extra $0.45 to $0.55 cents per ride. There’s not a customer I know who wouldn’t understand if the companies did that again.

Some weeks, I’d probably make an extra $80 if the apps offered that again. So far, Uber and Lyft have offered cashback on gas through partner apps, or if you use their debit cards, which I don’t have.

I’m getting by with my hybrid, though, which gets around 50 miles per gallon. If you’re driving a regular car that gets 25 to 30 miles per gallon, I don’t see how this kind of work is profitable.

Do you have a story to share about Uber, DoorDash, or another gig app? Contact this reporter at abitter@businessinsider.com or via encrypted messaging app Signal at 808-854-4501. Use a personal email address, a nonwork WiFi network, and a nonwork device; here’s our guide to sharing information securely.

Read more stories from gig workers



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