For the first time in the past four years, the Metropolitan Transportation Authority (MTA) has announced an increase in the price of New York City subway, bus and train tickets – readopting its two-year plan of fare increases.
On Monday, the authority in charge of public transportation in the Big Apple announced a 5 percent increase in the price of a single subway or bus ride – from $2.75 to $2.90.
Also increasing will be the prices of 7- and 30-day MetroCard passes – from $33 to $34, and from $127 to $132, respectively.
Furthermore, fares for the express bus, used by commuters in neighborhoods not served by the subway, would increase by a quarter – from $6.75 to $7 – while the cost of the seven-day pass would rise from $62 to $64.
MTA Deputy Chief Financial Officer Jai Patel said restoring regular fare and toll increases will help commuters and the transportation agency plan for the future. “It will help us cope with the growth in expenses and also gives us some predictability in fare and toll revenues,” Patel said.
The MTA’s strategy also includes a hike in tolls at bridges and tunnels, which will increase by 6 to 7 percent.
The fare hike, which is expected to go into effect by the end of the summer, is expected to allow New York’s public transportation to earn about $300 million more per year for the MTA – less than half of the $690 million the MTA claims it lost to evasion last year.
