Starting Sunday, it will be a buck cheaper to catch a taxicab in Toronto.
The base fare for cab rides goes down to $3.25 today from the previous base fare of $4.25.
While the new starting price may not be reflected on all meters immediately, cabs have to start charging the reduced base fare for rides starting Nov. 1.
City councillors voted on the move in September as part of an effort to reform regulations around the cab industry in the wake of ongoing conflict around the Uber ride sharing service.
In a news release issued Friday, Mayor John Tory said the change will help the taxi industry be more competitive.
“This will make moving around the city more affordable for the public, and it will help the traditional taxicab industry compete,” Tory said in the release.
The city is also issuing 100 new cab licenses to drivers on the waiting list.
Beck Taxi operations manager Kristine Hubbard told CP24 that their drivers have long recognized that fares "have not been affordable or accessible to the people of the city."
The city’s cab industry has been locked in a heated battle with city officials and ride-sharing service Uber, which the industry says is an illegal cab service that competes unfairly.
Hubbard called Uber a "black market service."
However Uber has said it is a technology company that doesn’t fit within the city’s current regulatory framework.
Uber spokesperson Susie Heath wrote in an email that the company welcomes the lower base cab fare.
"Lower fares are good news for consumers. We believe that Torontonians deserve a safe, reliable and affordable ride in our city and that taxi and ridesharing can complement each other to better serve rider and driver needs in Toronto."
City staff are currently working on a new regulations that would standardize the rules around ride sharing services like Uber.
