Fuel Scarcity Drives Uber and Bolt Price Hike by Over 100%

• Uber and Bolt have increased the price of rides within Lagos and other major cities by over a 100 percent

• According to Nairametrics, this information was gathered from the riders and drivers of the ride-hailing companies

• The drivers claim that the sharp hike in price is a result of fuel scarcity that has bothered most parts of Nigeria over the past few weeks

Lately, Nigerians have taken to social media to lament the effect of fuel scarcity as the prices of commodities continue to rise.

Two of Nigeria’s biggest ride-hailing companies, Uber and Bolt have raised the cost of transportation for riders by over a 100 percent.

This is according to information that was gathered from riders and drivers of both companies, according to Nairametrics.

Drivers have claimed that the decision to double the price was made due to fuel scarcity that has hit major cities in Nigeria.

The consensus is that the fuel scarcity has reduced the number of cars available for riders to pick up, creating a *2 surge in price.

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In most Nigerian cities, thousands of commuters rely on ride-hailing cars and bikes to move around. The increase in fares is likely to affect their disposable income, leaving them with less to spend.

The longer this fuel scarcity lingers on, the harder it will become for people who rely on ride-hailing services to afford the fares.

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