That taxi ride across town will be a little bit cheaper next week.

Costa Rica's Public Services Regulatory Authority (ARESEP) approved on Tuesday a resolution to cut fares by ¢40 (U.S. $0.07) for the first kilometer and ¢45 ($0.08) for each additional kilometer, which will take effect March 10.

ARESEP spokeswoman Carolina Mora said the reduction reflected a six-month decline in fuel costs.

Taxi rides will now cost ¢430 ($0.77) for the first kilometer, with additional kilometers costing ¢385 ($0.69). Waiting fares, however, will increase to ¢2,505 ($4.47) from ¢2,470, per hour. The cuts apply to all of the country's 12,000-plus taxis.

“What can we do? Work a few hours more?” said taxi d river Arnunfo Montoya, 67, from San José, who estimated he would have work 14 to 15 hours to day after the rate cut, up from his 10 to 12 hour workday now.

The rate change comes on the heels of a 5 percent cut in bus fares, set to take effect Friday. The reductions, which range between ¢10 ($0.02) and ¢360 ($0.64) depending on the route, mark the first general bus fare cut in 10 years. Fuel prices were also cited as the primary reason for the bus rate cut, ARESEP said.