New York City increases its taxi fares

British professionals moving to America, specifically New York City, will find that the cost of a taxi ride is significantly higher than they might have imagined.
The 17 per cent increase in “cab fares” – as they are known in the US – was agreed two months ago by The Taxi and Limousine Commission, which is responsible for licensing and regulating New York’s taxis.
It is expected to take a few weeks for the transition to take full effect, meaning there will invariably be a mixture of new and old fares in operation in the interim. It is the first time in over seven years that fares have experienced a hike.
Previously, passengers in a cab would pay 40 cents for each fifth of a mile, but now will have to hand over 50 cents for the same distance. The average fare will now cost $12 (approximately £7.60), which is a two-dollar increase.
Sentiment is mixed over the price rises, with taxi drivers generally upbeat because it balances the higher cost of petrol they have to pay, while naturally, some commuters feel the substantial increase is a little too sudden.
“A 17 percent hike all at once is a little hard to swallow,” New York City resident Christopher Keating was quoted by Reuters as saying. “They may deserve a raise, but it seems like it would make more sense in smaller increments, year to year.”
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