The financial pinch for the public is set to continue as London’s black-taxi fares increase 3.4 percent starting April 4 to help cabbies meet higher costs, Transport for London has said.
The average fare for a taxi trip on a weekday during working hours will rise 33 pence to 10.16 pounds ($15.01), London’s transportation authority said in an e-mailed statement today. The change was prompted by a 3.7 percent increase in operating costs this year, with diesel fuel 4.1 percent more expensive.
“The increase reflects changes in national average earnings and encourages taxi drivers to provide a top-quality service in London,” Ed Thompson, director of the Taxi and Private Hire unit at TfL, said in the statement.
Cabbies will also by able to charge an additional 40 pence per trip if diesel prices rise above 147.1 pence a liter (0.26 gallon) between April 4 and Jan. 1, the authority said. As of Jan. 30, the average diesel cost was 100.7 pence a liter, TfL said.
Source: Patrick Donahue, Bloomberg
