However, "it feels like just a fling for now," the source tells PEOPLE. "She's getting over a breakup."
PEOPLE is out to reps for both stars.
Fans began to speculate about a romance after photos emerged on Twitter, appearing to show Benson, 30, out grocery shopping with rapper, who is also 30. According to The Cut, they were taken over the weekend.
While both Benson and G-Eazy have been tight-lipped about their relationship, the Pretty Little Liars star seemingly responded by liking a fan's Instagram post that shut down claims that she and G-Eazy are a romantic item.
On Wednesday, a Delevingne and Benson fan account shared a screengrab of an article about Benson's day out with G-Eazy, captioning it, "You can't say they are dating just because of a like and some comments. Can't Ashley have friends now? STOP SAYING ASHLEY CHEATED! OR EVEN CARA! They just needs friends right now more than ever!"
The news comes after the two collaborated together on a cover of Radiohead's "Creep," which G-Eazy posted it to his YouTube page on April 21.
Multiple sources confirmed to PEOPLE earlier this month that Benson and Delevingne called it quits in early April.
One source said that Delevingne, 27, and Benson ended their relationship in April, adding that Delevingne had been spending time with friends including Margaret Qualley and her sister Rainey Qualley, as well as Kaia Gerber, while self-quarantining amid the novel coronavirus (COVID-19).
"Cara and Ashley always had their ups and down before but it's over now," the source told PEOPLE. "Their relationship just ran its course.”
Ashley Benson and Cara Delevingne
Representatives for the former couple have not commented.
Delevingne and Benson were first spotted together when they were photographed kissing at London’s Heathrow Airport in August 2018. The supermodel/actress confirmed their relationship in June 2019, right before the TrevorLIVE Gala, when she told E! News that she shared an Instagram video kissing Benson in honor of the Stonewall Riots’ 50th anniversary and their one-year anniversary.
“I don’t know because it is Pride, it’s been 50 years since Stonewall happened and I don’t know,” she told the outlet. “It’s been just about our one-year anniversary so, why not?”