New York City taxi drivers will see their wages increase as the cost of a taxi goes up for the first time in 10 years.

The Taxi and Limousine Commission on Tuesday approved a set of fare hikes for yellow taxis, which will increase the average cost of a ride by an estimated 23%. For-hire vehicle services like Uber and Lyft will also see their per minute and per mile rates go up.

Under the changes, yellow taxi riders will see the base fare go from $2.50 to $3.00. The surcharge for rush hour trips will increase by $1.50, the overnight surcharge will go up 50 cents, and a new $5 surcharge will be tacked on to all trips to and from LaGuardia Airport. The surcharge for taxi trips to Newark Airport will increase from $17.50 to $20 as well.

The JFK Airport flat rate for taxi rides to and from Manhattan will go up from $52.00 to $70.00.

Drivers for app-based vehicles and black cars will see their per minute rate go up by 7.8%, marking the first increase in their per minute rate since 2019.

This graphic, from the Taxi and Limousine Commission, shows how taxi fares will increase by the end of the year..

The TLC said the higher fares will increase driver pay by 33%, a boon for cabbies who have struggled with competition from app-based companies and the pandemic’s impact on travel around the city. Roughly 6,300 — or 47% — of the city’s 13,500 yellow taxis were off the streets as of July, according to city data.

“It’s going to help us at least get a couple more dollars in our pocket, so this is really a good thing,” taxi driver Saibou Sidibe, who’s been a yellow cab driver since 2002, said after the vote.

Richard Chow, who has been a medallion owner and taxi driver for 17 years, was also at the vote. His brother Kenny took his own life amid financial hardship. “This helps me a lot,” he said.

Taxi and Limousine Commissioner David Do was greeted by Chow and other drivers, and posed for a picture with the drivers after the fare hike was unanimously approved by the agency’s board.

“Raising taxi fare rates and minimum pay for high-volume drivers is the right thing to do for our city,” Do wrote in a statement. “This is the first taxi fare increase in 10 years, and these raises will help offset increased operating expenses and the cost of living for TLC-licensed drivers. We are confident that today’s unanimous commission vote will keep our taxi and FHV fleets sustainable and ready to serve New Yorkers.”

The new fares are scheduled to go into effect by the end of the year, officials said.

“Gas prices and expenses have soared the last two years, and rideshare drivers are struggling to make ends meet,” said Brendan Sexton, the president of the Independent Drivers Guild, a group that represents some app-based drivers. “This increase to the minimum pay is critical and an important step to protect the 80,000 rideshare drivers who keep our city moving.”