London Taxi Fares to Rise 2.7% in April Over Higher Fuel Costs

London taxi fares will rise by an average 2.7 percent on April 2, to reflect higher driver running costs including fuel and insurance, Transport for London said in an e-mailed statement today.

The rise compares with an average 6.8 percent rise for London subway and bus services this year. U.K. train fares also increased an average 6.2 percent in January, according to the Association of Train Operating Companies.

“This year’s moderate increase continues to seek to cover increases in the cost of running a London taxi whilst providing passengers with value for money for the journeys made in London’s world-famous black cabs,” John Mason, director of taxi and private hire at TfL, said in the statement.

Last year’s taxi fare increase was 2.3 percent. The cabs carry about 105 million passengers a year, according to TfL spokesman Sandeep Dhillon.

To contact the reporter on this story: David Altaner in London at daltaner@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge in London at Ckeatinge@bloomberg.net

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