Costa Rica taxi fares are going up this week by 12 percent.

The Public Services Regulatory Authority (ARESEP) last week approved a 50 colones ($.09) raise requested by the National Federation of Taxi Cooperatives, bringing the cost of entering a red taxi to ¢470 ($.85), up from ¢420. Each additional kilometer will now cost ¢430 ($.78). The new fares go into effect Friday.

Every six months taxi fares can be reevaluated to adjust for inflation, according to ARESEP. The last adjustment to taxi fares was in April, when prices rose 3 percent.

Last week ago, ARESEP rejected a 10 percent fare hike request by Taxis Unidos Aeropuerto Juan Santamaría, the orange taxis that serve the international airport in Alajuela, northwest of San José. Taxis Unidos has an exclusive contract to park at the airport's exit, but ARESEP would not approve a fare hike because the taxis lack meters and charge customers arbitrary fees determined in advance, the regulatory authority said in a press release.