The rising cost of fuel is significantly reducing the pay of delivery and rideshare drivers as gas prices in many areas of the country reach $5. According to reports, a lot of people are using advertising firms to have their cars wrapped in marketing decals to earn extra money.
Depending on the advertisement and the length of the campaign, drivers can earn between $100 and $800 per month. They can also earn a bonus of between $100 and $200 for timely advertisements.
In the last three months, businesses in that industry, like Carvertise, have witnessed a monthly surge of between 8 and 13 percent in new signups, with more anticipated.
Others in the field such as Wrapify said they have thousands of gig drivers on their subscriber list and clients ranging from GoPuff, EA Sports, 7-Eleven to local law firms.
Uber has its cartop advertising network, which has 112 million daily impressions with ad displays atop over 3,000 vehicles across major U.S. cities. However, the ride-hailing giant is in talks on formal partnerships with firms such as Carvetise to boost driver income, a source familiar with the matter said, but nothing has been finalized.
In response to the soaring gas prices, President Biden has called for a suspension of both federal and state gas taxes for the next three months. This move combined with new actions by the oil industry to pass along savings to consumers could potentially reduce the cost of a gallon of gas by around $1, Biden aides say.
By suspending the federal gas tax “we can bring down the price of gas and bring families just a little bit of relief,” Biden said during his speech.
The White House estimates that a three-month suspension of the federal gas tax, which is 18.4 cents per gallon and would cost roughly $10 billion in total.