Dublin City Council voted to raise taxi fares in the capital at a meeting last night.
Fares will rise from €2.75 to €3.40 during the day and from €3 to €3.70 at night. The increase was voted for by a majority of 27 to four.
Passengers are already paying 50 cent of the increase, which was introduced unofficially by drivers last June.
The increase will come into effect next January if the city's other three local authorities - Dún Laoghaire-Rathdown, South Dublin and Fingal - approve the decision.
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They are due to meet on the matter in the coming weeks and will make their decision before the end of the year.