Ramu (50), an egg seller, and one of his customers, Gopal Ram (62) were killed in the incident, they said.
The police said Ram died on the spot while Ramu, a resident of Nainital, who was badly injured, died on way to a hospital in Haldwani.
Ram had come here from Suwaapani in Ranikhet for his wife's treatment.
Fakir Ram (75), who happened to be at the kiosk at the time of the accident, and the taxi driver were also injured and have been hospitalised.