The cost of taking a taxi goes up by 3.2pc today.
The increase, signed off by the National Transport Authority (NTA) in September, will add 30 cent to a standard €10 fare.
However, while many drivers have applauded the NTA's efforts to boost their income, some say the increase is too small to offset the higher cost of insurance, tax and fuel.
Meanwhile, Irish taxi app Lynk said drivers will have to pay €200 to recalibrate their meters.
These will then have to be checked by the National Standards Authority of Ireland's Legal Metrology Service at a cost of €86.
However, Lynk said that in the long run it will mean higher earnings for drivers, both existing and those considering entering the industry.
"We're welcoming the new fare increase because it will improve the income for our valued drivers," said Lynk boss Noel Ebbs.
"We already offer a package that helps our drivers make a healthy income and control that with their own work schedule.
"However, the higher costs of running a taxi and, in particular, rising insurance costs, have put heavy financial pressures on some drivers."
The increase comes shortly after it was revealed that the number of taxi drivers in Ireland has fallen to its lowest level in the past decade.
The National Transport Authority said there were 26,012 licenced taxi drivers at the end of last year. In 2009 there were 47,222.
In Dublin there are 10,688 registered taxis.