Yes, in the interest of fairness passengers will also receive cancellation fee, depending on when they cancel the booking. Passengers are charged a $10 cancellation fee on any cancelled booking.
For an immediate pick up passengers have 2 minutes to cancel without receiving a penalty. If the pick up time is not immediate but still less than one hour away passengers have 5 minutes to cancel without receiving penalty.
If the pick up time is more than one hour in advance the passenger can cancel without receiving penalty.
Also if a passenger is marked a no show they will also be charged a cancellation fee. See What happens when I can't find the passenger?