Myrtle Beach cab fares set to jump for first time in years as gas prices climb

Cab fares in one of South Carolina’s most popular tourist spots are headed up for the first time since 2016, as city leaders work to keep pace with inflation and rising gas prices.

Myrtle Beach officials gave early approval to a set of rate changes that adds 10 cents more for every eighth of a mile traveled and every 55 seconds of waiting time, to be stacked on top of the $3.50 base fare and a per-passenger pickup fee of $1.

“I think it’s way overdue,” Mayor Brenda Bethune said at a Tuesday City Council meeting where an initial vote was taken.

Unlike private ride share services Lyft and Uber, which can set their own prices, taxis can’t charge more than what the city allows.

Dick Todd, who runs Cab Guys off North Ocean Boulevard, said he’s grateful the city is supporting amending the rates, especially as fuel prices continue to climb.

Todd operates a 12-person van and spends roughly $300 per week on gas, he said.

“Anything they can do to help us out is greatly appreciated,” he said. “We’re regulated until our eyeballs pop out.”

With the peak of tourist season around the corner, Todd said being able to boost rates ahead of demand is good timing.

“I’m seeing more of a call for group stuff, for shuttles,” he said. “They’re taking advantage of the fact I have to charge city taxi rates for a bigger shuttle van.”

The City Council is expected to adopt the rate changes next month.