The increase could take effect if Transport Minister Mike Henry does not respond to an ultimatum issued by the National Council of Taxi Associations.

The Association has given the Minister until Friday to announce a date by which taxi fare increases will take effect or it will take matters into its own hands.

President of the Association Dion Chance said he is fed up with what he described as the undue delay in announcing the new rates.

Mr. Chance said the situation is especially vexing, as taxi operators do not receive any subsidies from the state and gas prices continue to skyrocket. "Adjusting the fares is just one option that is available to us but we definitely will be doing something. On Friday we need to hear from the Ministry of Transport and Works...if they have a timeline for when the increases will take effect," said Mr. Chance.

The Association represents roughly 20,000 taxi operators islandwide.

And the Office of Utilities Regulation (OUR) has submitted its recommendations on new taxi fares to the Transport Minister.

Mr. Henry told our news centre on Tuesday night that he is in the process of making a final decision on the matter.

However, he did not give a specific date when an announcement will be made.