Proposed Taxi Fare Hike Looms On the Horizon

The Taxi and Limousine Commission will consider increasing cab fares as a result of taxi owner’s complaints of high gas prices, says Crain’s New York.

Fleet owners want an increase of between 16 and 20 percent, arguing that gas prices that have gone up nearly 45 percent since 2006—the year the last hike was approved—make the proposal necessary to help keep drivers afloat.

"The fare hasn't changed since 2006, so it is reasonable for taxi drivers and fleet owners to put this on the table," TLC Commissioner David Yassky said in a statement. "We will consider their petitions over the next couple of months."

A 50-cent surcharge went into effect in 2009 to fund city buses and subways, but left the base fare unchanged.

Recently, the , which will be painted bright green and given authority to pick up street hails outside of Manhattan.

The public hearing will take place on May 31 at 11 a.m. at the TLC's headquarters located at 33 Beaver St., Floor 19, in Manhattan.

What do you think, Bayside? Do you think a fair hike is reasonable?

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