Mayor Lori Lightfoot proposes fuel surcharge for Chicago taxi rides

CHICAGO (CBS) -- With gas prices in Chicago still well above $5 per gallon, Mayor Lori Lightfoot is proposing a temporary fuel surcharge on taxi fares to provide a measure of relief to cab drivers.

The mayor's proposal would add a $1 surcharge to taxi fares of up to $20, a $2 surcharge for fares of up to $40, and a $3 surcharge for fares above $40 whenever the AAA's average monthly price for a gallon of regular gasoline in Chicago rises above $5.

Cabs would be required to post signs "in a prominent place" notifying customers of the fuel surcharge.

The Chicago Department of Business Affairs and Consumer Protection would be empowered to eliminate the surcharge whenever gas prices drop below $5 per gallon.

While gas prices have been falling in Chicago in recent weeks, as of Wednesday, they were still averaging $5.60 per gallon, compared to $6.04 per gallon one month ago, and $3,73 one year ago.

However, with the City Council scheduled to take its annual August recess, the next City Council meeting won't be held until September, meaning it would be more than two months until the fuel surcharge could be approved at the earliest.