Fares are reviewed annually in a bid to maintain cab drivers' income, while not putting them out of reach of Londoners, and rose by an average of 7.6 per cent in April. TfL, which licenses the black cab trade, uses a series of tariffs to set the fares, depending on whether the journey is on a weekday, in the evening, at the weekend or at night.
The minimum fare would remain at £3.80 but a one-mile weekday journey would rise from about £6.80 at present to about £7.20 if the maximum increase is applied. Similarly, a three-mile weekday evening journey would increase from about £15.80 to £17.20 under the highest option.
TfL said: It is important that taxi drivers are able to cover their operating costs and are fairly paid. This helps ensure that working as a taxi driver remains an attractive choice of career.
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