Gas prices spike, taxi fares couldn’t stay behind
Last week, every cab company in Fredericton upped their fare price. With record-high gas prices, companies said there was no way out.
Most fares went up to $1, and for some distances the increase was less. For ABC Taxi, the minimum fare for short distances was $5.50. Now it is $6.
Mike Bacon, owner of ABC Taxi, said there was no way out of this decision.
“Right now, every little bit helps. There was nothing else we could do. We had to make a decision that was fair for our business.”
In New Brunswick, gas prices went up last week to 142.2 cents per liter.
He said the fare increase has helped cab drivers afford buying gas, which will ultimately make a difference in their income as well.
Bacon said every company is going through the same situation.
“There’s only so much we can do. Cab prices in Fredericton are really low compared to other cities. We are still very inexpensive.”
But the prices aren’t low enough for many in Fredericton. Brendan Lee Young, a UNB Graduate student, says he spends around $60 in cabs every month. He said this cost will definitely go up now.
“This would mean that I may have to choose very carefully where I cab and where I walk. Perhaps even using the Public transit system even more.”
But Young said that while he will be on a tighter budget, he understands why companies needed to raise their prices.