Today, the Buenos Aires City government announced an 18% increase in taxi fares come May.
The initial fare, currently ARS $14.30 with a ARS $1.43 increase every 200 meters or minute-long wait–whichever comes first–will go up to ARS $16.90 and ARS $1.69, respectively. The nightly fee, always 20% more expensive, will start at ARS $20.28 with an incremental increase of ARS $2.02.
The decree, signed by city Mayor Mauricio Macri, explains that the decision was due to the companies’ operating costs and other economic factors.
The announcement comes right on schedule, as City law requires cab fares to be reviewed every six months and last time the prices went up was in August.
If you’re thinking that’s too expensive and you’ll just wait for Uber to finally arrive, think again. Four days ago, the four major taxi companies and union leaders met to plan a joint strategy to block the company from entering the country.
So for now, hail away and just mentally convert that taxi fare into dollars…you’ll be alright.