Taxi drivers have been faced with increasing petrol/diesel costs in recent months with this being a major expenditure for such businesses. Also, the taxi sector has suffered significantly during the pandemic due to a huge drop in income with many taxi drivers going out of business or struggling to make ends meet. So, is a price rise appropriate?

Well, many taxi drivers would presumably support an increase in fares to help them from a financial perspective. After all, many taxi drivers, on a personal basis, are also faced with an increase in the cost of fuel for their homes, a rise in food prices and an increase in mortgage repayments.

Some local councils will no doubt be making a decision in this respect. In doing so they will not only have to take into account the views of taxi drivers but also the effect this may have on passengers, many of whom are also faced with similar increases in household expenditure as taxi drivers that we have mentioned above.

It is difficult to keep everyone happy. In fact, it is almost impossible to do so. So, local councils have a difficult decision to make when considering increasing taxi fares.

As a taxi driver, you will no doubt have your thoughts on what should happen as far as increasing fares is concerned. What you don’t want to do is increase fares so much that that puts people off using a taxi and, instead, find some other mode of transport.

Hopefully, those making such a decision will make the right one that is acceptable to all parties i.e. taxi drivers and passengers.

Whilst writing, another expense a taxi driver has is taxi insurance. So, if your existing cover is shortly coming up for renewal or you are looking for such insurance for the first time why not get in contact with us with a view to obtaining a competitive quotation without any obligation to proceed. We look forward to hopefully being of assistance.