The cost of taking a taxi in Toronto could soon rise by $1 per trip in response to rising gas prices which have significantly cut into driver profits.
which will be considered by the city’s general government and licensing committee on Friday recommends that the “drop rate,” which is the base fare riders are charged the second they enter a taxi, be increased from $3.25 to $4.25 immediately.
“Staff acknowledge that the current state of the market, particularly the sudden and rapid increase in fuel prices over the months of February and March requires immediate action,” the report notes. “While generally a review of tariff levels should include public and industry consultation, at this time and given the increased operating cost factors of rising fuel prices and inflation, a recommendation to increase taxicab fares immediately is appropriate.
That is up nearly 50 per cent from April of last year, when drivers were paying an average of $1.22 per litre to fuel up. They also point out that the increase will be the first to the base fare since 2010, when the city began including HST in the charge.
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