Chicago Taxi Fares May Increase for First Time in a Decade

Rising costs and driver shortages prompt call for fare hike, first since 2016.

Published on Feb. 17, 2026

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Chicago's taxi industry is seeking its first fare increase in over 10 years, with Checker and Yellow Taxi president John Moberg citing rising costs and a shortage of drivers as the key factors behind the push for higher fares.

Why it matters

Taxi fares in Chicago have remained stagnant for the past decade, even as the cost of operating taxis has risen. This has put financial strain on taxi companies and drivers, potentially impacting service and availability for passengers.

The details

Moberg said the rising costs of fuel, insurance, and other expenses, combined with a shortage of taxi drivers, have made it critical for the city to approve a fare increase. The last time Chicago taxi fares were raised was in 2016.

  • The last taxi fare increase in Chicago was in 2016.

The players

John Moberg

President of Checker and Yellow Taxi, the largest taxi companies in Chicago.

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What they’re saying

“Rising costs and fewer drivers have made it critical for the city to approve a fare increase, the first since 2016.”

— John Moberg, President, Checker and Yellow Taxi (fox32chicago.com)

What’s next

The Chicago City Council will need to approve any proposed taxi fare increases.

The takeaway

Chicago's taxi industry is facing financial pressures that may require the first fare hike in over a decade, a move that could impact both taxi companies and passengers in the city.