Fuel cost rise sees London cabbies at standstill at ranks

The fares cabbies can charge are set by Transport for London

Cabbies in London are queuing at ranks rather than driving in search of passengers because of spiralling diesel costs, according to their union.

"Extortionate" prices are having an impact on the drivers of the 10,000 diesel-powered black cabs, the Licensed Taxi Drivers Association (LTDA) said.

Latest figures from data firm Experian Catalist show the average cost of a litre of the fuel has reached 161p.

Fuel prices have soared following Russia's invasion of Ukraine.

Russia is one of the largest oil exporters globally.

Following its invasion of Ukraine on 24 February, Western nations imposed economic and trading sanctions on Russia, forcing the wholesale price for crude oil used in manufacturing petrol and diesel to increase.

• Petrol at fresh record as oil and gas prices soar

• How has Ukraine conflict affected petrol prices?

LTDA general secretary, Steve McNamara, said the cost of diesel had increased by about 25% since 2020.

"Fuel is the largest part of your daily running costs," he said. "If your running costs are up 20-25%, it starts to bite."

"What we're seeing is more cabs looking to park on ranks. They're trying to avoid cruising around."

Transport for London (TfL), which regulates black cabs in the city, is currently considering whether to give permission for cabbies to increase their fares.

The transport authority sets the fares that drivers charge and which are calculated by a meter.

It has been approached for comment.

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