Taxi fares are set to increase by an average of 4 percent from early next year.
The last time taxi fares increased was in 2008.
The National Transport Authority had recommended fares going up in 2010 and 2012 but drivers asked for it not to be imposed as they thought it would drive customers away.
But its now believed that economic growth, a rise in the number of people in work and increased fuel and running costs justify a fare hike.
The proposal is out for public consultation until December 9th with any increases likely to be introduced early next year.
