Taxi fares in Toronto are expensive - very, very expensive. Not only do our rates come in as the most pricey in Canada, but Toronto is ranked 20th in the world, ahead of major cities like New York, Paris, and Chicago.

Here are a few of the reasons our cabs are so costly, as outlined in the Globe and Mail:

• A nearly 20 per cent fare hike was implemented in 2008 when the price of gas temporarily skyrocketed
• "Toronto has more than twice as many licensed taxis per capita as other cities"
• Insurance fees are higher than elsewhere in Ontario
• Municipal licensing fees are the most expensive in North America.

Although taxi fare were not really an election issue, Councillor Denzil Minnan-Wong believes that, at a minimum, council should discuss the issue.