We could be paying almost 10 per cent more for a taxi by the end of the year.
The National Transport Authority has recommended putting up prices.
98fm spoke to people on Grafton street.
One man told us taxis "are dear enough as they are."
A woman said the news of a possible increase is "a wee bit scandalous."
Every two years the NTA looks at the cost involved in running a taxi from fuel prices, to the impact of inflation and increases in public transport.
It says costs for drivers have risen by 9 per cent since the last review and that fares should increase to reflect that.
Business journalist Joe Lynam says it follows a maximum charge increase of 12 per cent less than two years ago:
"This is considerably more than inflation in this country, which is about 2%"
Dublin taxi driver Alan is against the move:
"Every time we get an increase we have to pay for the meter to be changed and sealed."
"The last increase we got, we haven't earned that money back yet!" he said.
People can have their say on the proposed changes with a public consultation now underway until August 16th.
