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Amazon to double cashback rewards on fuel purchases as fuel prices rise -Breaking

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© Reuters. FILE PHOTO – The Amazon logo is visible on the front of an Amazon Books store in New York City. This was taken February 14, 2019, U.S.A. REUTERS/Brendan McDermid

(Reuters) – Amazon.com Inc (NASDAQ) has launched a program that doubles cashback on fuel purchases up to 12% to Amazon Flex (NASDAQ) debit cardholders. This is to assist Flex delivery partners in the face of rising fuel prices.

Amazon Flex is a ride-hailing company that works as Uber (NYSE :). It delivers household goods quickly to customers via programs such Prime Now or Amazon Fresh. The average driver who drives their vehicle earns more than $26 an hour in the United States.

This comes at a time when gasoline prices have increased more than 20% since last month. The increase is due to higher rates caused by the Russian invasion in Ukraine.

Amazon posted a blog Wednesday saying that they are still monitoring the situation closely to see if any adjustments need to be made to help their transportation partners.

Amazon pays for fuel expenses of delivery service partners and Amazon Freight Partners, which hires trucking companies independent from Amazon to deliver goods between its facilities.

This was done earlier in the month Lyft (NASDAQ:) Lyft Direct cardholders can expect an increase of cashback rewards from 4% to 5% for gasoline purchases until June 30, according to Lyft Direct.

Uber, Lyft, Doordash and other rideshare companies have introduced surcharges for drivers in an effort to offset higher fuel prices.

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