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15
Think I found a new low…
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To evaluate whether $151.03 is a good fare for a 6-hour 43-minute (6.7167 hours) and 311.2-mile ride for a Lyft driver, we need to consider several factors:

  1. Hourly Earnings:

    • Calculate the hourly rate by dividing the total fare by the time taken.
    • Hourly earnings = $151.03 / 6.7167 hours ≈ $22.48 per hour.
  2. Mileage Earnings:

    • Calculate the earnings per mile by dividing the total fare by the distance.
    • Mileage earnings = $151.03 / 311.2 miles ≈ $0.49 per mile.
  3. Driver Costs:

    • Drivers incur several costs, including fuel, maintenance, insurance, and depreciation.
    • Estimate these costs to determine net earnings.
  4. Fuel Costs:

    • Assuming an average fuel efficiency of 25 miles per gallon and a fuel cost of $3.50 per gallon:
      • Total fuel consumption = 311.2 miles / 25 miles per gallon = 12.448 gallons.
      • Total fuel cost = 12.448 gallons * $3.50 per gallon = $43.57.
  5. Maintenance and Depreciation:

    • Maintenance and depreciation costs are typically estimated at around $0.15 per mile.
      • Total maintenance and depreciation cost = 311.2 miles * $0.15 per mile = $46.68.
  6. Net Earnings:

    • Subtract the estimated costs from the total fare to find net earnings.
    • Total costs (fuel maintenance/depreciation) = $43.57 $46.68 = $90.25.
    • Net earnings = $151.03 - $90.25 = $60.78.
  7. Net Hourly Earnings:

    • Calculate the net hourly earnings.
    • Net hourly earnings = $60.78 / 6.7167 hours ≈ $9.05 per hour.
  8. Comparison to Minimum Wage:

    • Compare the net hourly earnings to the local minimum wage.
    • If the net hourly earnings are significantly below the minimum wage, the fare is likely not good.

Conclusion:

Based on the calculations:

  • Gross hourly earnings: ≈ $22.48 per hour.
  • Net hourly earnings (after costs): ≈ $9.05 per hour.

Considering the significant costs involved and the resulting net earnings, $151.03 for a 6-hour 43-minute, 311.2-mile ride is not a good fare for a Lyft driver, especially if the net hourly earnings are lower than the local minimum wage or typical earnings expectations.

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3 months ago