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Boston Taxis- Why So Over-priced?.
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Boston taxi services cost more than many other comparable metropolitan cities in America. Initial price is $2.60.
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To Boston taxi drivers — many immigrants who average 72 hours a week driving somebody else’s taxi to profit maybe $550 — the medallions are like wealth, keys to higher quality lives for themselves and their relatives. As a result, the medallions that were $50 in 1935 now cost substantially more, which makes them the second priciest in the country after New York City’s. Since the rate continues rising, the cabbies keep driving and driving and striving to continue.
Plus the bad financial crisis as well as the rising gas prices. It’s no surprise that Boston taxis tend to be expensive.