The Taxi and Limousine Commission is planning hearings on whether to raise taxi fares by as much as 20 percent.

City officials announced Monday that a public hearing is scheduled for May 31 to consider raising fares by 16 percent to 20 percent.

Taxi owners and drivers have petitioned the commission to raise fares. Industry groups have cited high gasoline prices and the new livery fleet in the outer-boroughs.

TLC Commissioner David Yassky said the commission will consider their petitions over the next couple of months.

“The fare hasn’t changed since 2006, so it is reasonable for taxi drivers and fleet owners to put this on the table,” Yassky said.

Base fare is now $2.50 plus $2 a mile. According to the Daily News, an average trip of 2.76 miles costs a rider $11.82. That would go up to more than $14 with a 20 percent hike.

(Source: NBC New York)