There will be a nine per cent increase in taxi fares starting from December 1st.
The National Transport Authority has approved the rise, following a review of the National Maximum Taxi Fare. The NTA says it reflects the rise in operating costs.
It will take effect on December 1st, and the authority says the move will ensure fares continue to reflect rising costs.
The change comes after a review, which takes place every two years.
Taxi meters will be adjusted to fit the new fare system over the coming months.
The NTA also announced the extension of the "special rates" that currently apply to taxi journeys between 8pm on Christmas Eve and 8am on Stephen's Day and 8pm on New Year's Eve and 8am on New Year's Day.
Under the new system the "special rates" will apply year-round at weekend peak times - midnight to 4am on Saturday and Sunday morning. The NTA said this extension of the higher rates is an effort to incentivise more drivers to serve the night-time economy.
