Yahoo Finance ComfortDelGro raising taxi fare structure with effect from Dec 13
Flag down fare going up by 50 cents
ComfortDelGro is revising its taxi fare structure to help cabbies defray higher operating costs due to rising fuel prices, high inflation and the impending Goods & Service Tax (GST) hike.
ComfortDelGro shares are up 2.31% as at 2.37pm.
With effect from Dec 13, the flag down fare will be increased by 50 cents. Depending on the vehicle type, the new flag down fare will be between $4.40 and $4.80. The subsequent distance-based rate will go up to 26 cents from 24 cents.
With this adjustment, the estimated fare for a 10km off-peak normal taxi trip will increase by 6.8% or 94 cents from S$13.80 to $14.74.
The definition of "evening peak hour", where a surcharge is applicable, will be extended by an hour from 5:00pm to 11:59pm, effective Monday through Sunday, including public holidays.
A new peak hour surcharge will also be implemented from 10:00am to 1:59pm on Saturdays, Sundays, and public holidays.
“For the past few years, our cabbies’ earnings had been impacted first by the pandemic, and then by higher operating expenses due to increase in fuel prices and high inflation," says Tommy Tan, CEO of the company's taxi business.
"This carefully considered move to update our fare structure is necessary. It ensures that our cabbies receive fair earnings with the rising cost of operations.
"As we analyse taxi demand patterns, there is also a need to review the evening peak hours and introduce weekend peak hour surcharge to ensure adequate taxi supply to meet increased commuter needs during the peak hours," he adds.
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