Newly Expensive Products? 5 Things That Will See a Price Increase

Rental Cars

Renting a car has always been on the expensive side, especially since not everyone has the means to do it. Yet, if you’re ever in a pinch or you’re traveling to another state and want some added mobility if you’re not going by car, you will find yourself paying way more than you usually did. Despite the service not actually being any different.

This is because rental companies sold a huge part of their car fleets at the start of the pandemic: no one was renting or traveling, and in the long run, it was more expensive for them to keep the cars. It also helped them stay afloat since this brought in more revenue.

However, once the world reopened, there was a strange shift in supply and demand: the average price to rent a car has increased by more than 70% in the last two years, with scarcity in the market for all the most popular destinations.

And if you’re thinking you can skip the renting a car part and just rely on ride services, your luck isn’t that good: we’ve all seen how both Uber and Lyft are now even more expensive than before. This is because they have lost a lot of drivers over the pandemic and people aren’t willing to go back to this mostly unregulated job.