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  1. ITV Report

London cab fares increase

London taxis are going to be charging more from today Photo: Reuters

Londoners who make use of the capital's black taxis will be hit by higher fares from today as the cost of a cab journey increases by 5.3 per cent.

Taxi fares are subject to an annual review and are calculated using a long-established formula, based on the costs associated with working as a licensed driver.

In the last year the price of fuel and the cost of insurance have both increased by 16 per cent.

The news prompted a mixed reaction among people in Earl's Court.

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