The cost of a taxi ride in New York City is about to increase significantly. The city's Taxi and Limousine Commission on Thursday voted to approve a fare hike for a ride in an inconic yellow cab.
On Thursday, the Taxi and Limousine Commission approved the hike in a 6-2 vote. The hike means that there will be a 17 percent increase on an average cab ride in the busy city. This hike is the first price increase since 2005.
The current base fare of $2.50 will remain the same, but riders will now pay 50 cents for each fifth of a mile that goes by. Riders will also pay 50 cents, up from the current 40 cents, for every 60 seconds in stalled or slowed traffic.
An average trip currently costs about $12.15, but that same trip will soon cost riders $14. This means that trip to the airports will cost riders more as well. A flat rate to John F. Kennedy airport from Manhattan will jump from $45 to $52.
For taxi drivers, the increase means that they'll take home an average of $160 after a 12-hour shift, up from $130, said commission Chairman David Yassky. Six cents from every trip will also go towards driver health care.
"It is time for a raise, and I think the public understands that," Yassky said at the meeting. "The public is prepared to pay more for taxi drivers to make a living,' as quoted by Bloomberg.com
Taxi drivers have been looking forward to better compensation. At Monday's hearing, a driver was quoted by Metro New York as saying "taxi driving is becoming an increasingly harder and more stressful job. Cab drivers are suffering."
However, residents are not quite happy with the increase.
"I would not take it. I would take the bus and I'm a disabled person, I would pay $1.10; $1.10 on the train and $1.10 on the bus. I would not take the cab, I'm sorry," one city resident told New York 1.
The fare hike will likely take effect in September.
Despite the hike, New York's cabs still aren't as pricey as some other city's cab fares. San Francisco's average cab ride also costs $14. In London, an average cab ride can cost more than $15. In Tokyo, travelers pay over $20 for an average ride, Metro New York reports.