Taxi Fares Going WAY Up

As reported in today's Advisor - • June 11, 2023 08:12 Taxi Fares Going up: The Nevada Taxicab Authority has approved a rise in taxi fares. The flag-drop rate will leap a significant 66%, from $3.50 to $5.25. Then it will be 37 cents for every eighth of a mile traveled, up from 23 cents twelfth of a mile (from $2.76 per mile to $2.96). The waiting fee will stay the same, $32.40 per hour. The fixed fares for the zones from the airport will go from $19 to $21 for Zone 1 (Tropicana Ave.), $23-$25 Zone 2 (to Flamingo), and $27 to $29 for Zone 3 (Strat). The increases are tied to inflation. When the new fares will go into effect hasn't been announced; they need to go through the remaining regulatory paces, then the taxi companies need to update their meters, which will be inspected by the Authority.

In my opinion, cabs are a good alternative for business trips, particularly if you are going to the Convention Center.. No struggle to find parking.  Before I retired, I used them a lot, but I also had an expense report.  Other than that, or if you do a lot of drinking and shouldn't drive, I couldn't justify using them now.  With this increase they may start to be pricing themselves out of the market.  Rental cars can be a much better alternative if you get a good price.

Only once in the last five years did I not get a rental car.  I regretted it since Cabs/Uber/Lyft cost so much when compared to a good deal on a rental car.  Figure about $45-50 each way from the airport to Downtown Grand, and another $35 - 40 each way to Ellis Island, South Point, etc.   That comes out to about $225-250 alone and we always go to other casinos in Henderson as well.  Adding that in we'd be over $350.

After spiking in early 2022, car rentals appear to be getting back to something that resembles "normal".  Just booked a rental car through Costco for $225 for 5 days. (About 4 years ago I rented one fro the same period for $125, but those days are long gone) Much less expensive and don't have to wait to be picked up.  A rental car also gives the freedom to get out of Las Vegas if needed, for about $20 in gas you can drive to Laughlin.  Can't do that with a cab or Uber, unless you take out a second mortgage.

  One trip anywhere in a taxi in Vegas costs as much or more that the daily car rental price. Currently I have reserved a premium car for $365.00 for my next 15 day trip in Vegas - an average of $24.33/ per.day. I can come and go anywhere, anytime and take as many trips as I desire - and I don't have to tip anyone for the privilege of being ripped off.

I have never understood the enormous increase in taxi fares that occurred even well before the current inflation, or how they have gotten away with it, since their fares are regulated.

No one who wasn't around back then will believe this, but in the '80s and '90s, a taxi from the airport to the Strip cost around $4. There was little national inflation during those years or, except for the last year, even in the '00s and '10s. Annual inflation was in the 1% to 3% range.

I understand the drastic increases in hotel rooms, shows, buffets etc, because they were loss leaders to bring people to the slots and table games. As gambling proliferated all over the country, it declined in Vegas as a percentage of casinos' income. Non-gaming revenue had to pull its own weight. Also, the new casinos were much fancier than the ones that were imploded, and their accomodations were much larger and more elaborate.

Taxis, on the other hand, are still just taxis, and they were never subsidized by gambling. If they were able to operate profitably when charging $4-$5 for a ride, they should be making astronomical profits when charging $50, even after accounting for gas prices and other cost increases. I understand why fares should have doubled or even tripled or quadrupled, but 10X???

Just got back from a trip.  We have noticed a significant decline in the number of taxis

       I believe that the taxi cab authority has screwed themselve and all taxi drivers. Uber and Lyft are rejoicing.

Taxis used to be lined up at the hotels & airport.  This trip saw just few waiting

Gotta be seven kinds of stupid to take a cab in Vegas these days.   Lyft/Uber rates signficantly cheaper and no worries of being long hauled by some rude jerkoff cabbie.   

Uber/Lyft from airport to Downtown/Strip is almost always $25-$30 unless you get jammed up in a rush and they jack the fares up with surge pricing.   When that happens, I just close the apps and wait about 5 minutes.  Prices will always come back down if you have a bit of patience.

Now if you're planning to be traveling around the Valley then rental car is obviously the way to go but take a look at off-airport rental locations so you don't pay the ripoff taxes/fees charged from airport pickup which sometimes creep up to almost 50%. 

I flew into Vegas a week ago Last Thursday, and was delayed getting into the airport due to the weather across the plains states   Long story short we got in about 1am and out Car Rental  Counter (Thrifty) was closed   So rather than waiting for UBER we grabbed a Taxi from the Airport to Harrahs and ended up paying $36.00   I was too tired to care as it was after 4am my time but I thought it was a Little Steep!