As part of the Taxi Regulation Review an economic analysis of the taxi market was undertaken, which included an analysis of taxi prices. The International comparison of taxi prices suggests that prices for taxis appear to be somewhat above average in Ireland relative to other countries. However, the conclusion of the analysis was that fares in Ireland are very similar to what one would expect given the levels of wages, employment and population density. The Review Group concluded that the guiding principles that have influenced recent price reviews by the National Transport Authority continue to be a valid basis for achieving an appropriate balance between the interests of taxi drivers and consumers. The National Maximum Taxi Fare is reviewed every two years and is due to be reviewed by the National Transport Authority again later this year. In line with the conclusions of the Review Group on Taxi Regulation, the benchmarking of taxi prices in other jurisdictions will be included in the analysis carried out for the 2012 taxi fare review.