On July 3rd, ride hailing company Lyft announced that due to higher than expected operating costs, ticket prices for the Citi Bike shared electric bike in New York City will increase by 20%. Starting from July 10th, the cost of electric bicycles for users with annual membership in Citi Bike or Lyft Pink All Access will increase from the current $0.20 per minute to $0.24 per minute. The fee for non members will be increased from $0.30 per minute to $0.36 per minute.