Some say it's due to the higher COEs while others say it's due to caps placed on number of new taxis...
From 25 October, SMRT will start to gradually introduce 600 new Toyota Prius taxis on Singapore roads but at a higher flag-down rate of $3.80.
The Toyota Prius taxis will be offered by Prime Taxi and Premier Taxi with flag-down rates starting at $3.50 and $3.70 respectively.
According to SMRT’s press release, the Toyota Prius taxis, which are hybrid electric cars, will now account for about one-fifth of SMRT’s total fleet of more than 3,500 taxis.
SMRT also raised the flag down rates for their Hyundai Azera taxis by $0.20 to $3.80 starting 22 October.
SMRT is not alone in increasing prices.
ComfortDelgro, the largest taxi operator in Singapore, recently introduced Hyundai i40 taxis with an increased flag down rate of $3.70 from $3.20 compared to its predecessor, the Hyundai Sonata taxis, last month.
A few weeks ago, Trans-Cab also introduced a new fleet of Renault Latitude taxis at an increased price of $3.90, which is $0.30 higher than their Chevrolet Epica taxis which are of a similar size.