Hackney carriage operators – who are exclusively allowed to use taxi ranks – have to approach the council to increase regulated fares.
The move follows similar requests in Shropshire where the council is due to consult on a 20 per cent increase in the rate after the first mile.
A spokesman for Telford & Wrekin Council said: "The council has consulted with the licensed hackney carriage proprietors on their proposed new fare tariffs.
"This follows a request from a number of licensed drivers to raise fares due to record fuel prices and general cost of living increases."
The council says further details will be made available in the information report to the licensing committee on Wednesday, July 26 and the council will follow the legal process required before making any decisions.
Hackney carriage fares are regulated by the council whereas private hire operators can increase their prices independently. At least one operator has already chosen to do this.
The council's cabinet will then meet on Thursday, September 22 to consider a report, requesting fare increases of Hackney carriage rates
Following the outcome of cabinet decisions, a 14-day public consultation will then take place and a decision expected in October 22 which the council says "will be fair for both operators and users".