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     FrontPage Edition: Mon 3 July 2006

Comfort, CityCab and Yellow-top taxi fares to go up

Source: www.comfort-transportation.com.sg

COMFORTDELGRO MAKES TAXI FARE ADJUSTMENTS
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The flag down fare of ComfortDelGro¡¯s fleet of taxis - Comfort, CityCab and Yellow-Top ¨C will be raised by 10 cents to $2.50 with effect from 6am, 10 July 2006. This is the first such increase in 12 years.
The move comes amid a difficult operating environment including rising fuel prices. In the last two years, the price of fuel has more than doubled and is now hovering near its all-time high.
The market price of diesel is now $1.07 per litre, up 30% from a year ago. To help our drivers, ComfortDelGro has extended significant fuel subsidies of $0.29 per litre to those of our taxi drivers who choose to pump with us. As a result, they pay just 78 cents a litre. Still, the higher cost of diesel has reduced the incomes of our drivers.
The decision to revise the current fare structure was made after ComfortDelGro had consulted its Taxi Associations. In line with the increase in flag down fares for normal taxis, ComfortDelGro will also be increasing the flag down rate of our Mercedes fleet by 20 cents to $2.80 to differentiate its premium service.
There will also be a distance-related fare adjustment to better reflect the relationship between fuel costs and distance travelled.
Under the new fare structure, trips that are less than 10kms will be charged at 10 cents for every 210m travelled compared to 225m currently. For trips above 10kms, the charge will be 10 cents per 175m compared to 200m now.
To ameliorate the current disequilibrium between demand and supply during peak periods, ComfortDelGro will raise the peak hour surcharge from $1 to $2. This is expected to reduce the waiting time during periods of high customer demand.
The morning peak hour period will also be redefined to take into account the current five-day work week. Currently, morning peak hours are from 7.30am-9.30am from Mondays to Saturdays.
From 10 July 2006, morning peak hours will be from 7am-9.30am on weekdays. Saturday mornings will no longer be defined as peak. The evening peak hours remain unchanged. (Please refer to the Annex for the fare changes).
The fare adjustments have been made to help our taxi drivers supplement their incomes. ComfortDelGro does not intend to increase its taxi rental charges.
Indeed, ComfortDelGro remains committed to the welfare of our 32,000 drivers. Besides subsidising the cost of diesel, we offer an extensive benefits package.
Last year, our total benefits package to our drivers amounted to $38 million, excluding personal accident insurance policies of up to $50,000 and hospitalisation benefits of up to $10,000 per driver.
More..... (Annex)

Source: www.comfort-transportation.com.sg Media Release 3 Jul 2006

Related Article:

- SMRT taxi fares to go up from 17 July 2006

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