The Public Transport Council (PTC) announced, public transport operators could increase fares by up to 4.3 per cent in the last quarter of 2018.
Energy prices, which was factored in this year’s fare formula, rebounded by 26.2 per cent over the previous year as well as other price indices in the fare formula such as wages have also increased over the past year, PTC highlight these factors as consideration for their recommendation.
“The PTC has reduced fares by a total of 8.3 per cent for the previous three consecutive years, largely due to the continued double-digit dip in energy prices,” said PTC.
The new fare formula includes a new component called the Network Capacity Factor (NCF), which the council said “balances commuter demand and public transport capacity enhancements and reflects the effort to provide commuters with more convenient and less crowded rides over the last year”.
The council said it will continue to keep public transport fares affordable to commuters, while also ensuring that the transport system remains financially sustainable.
Final fare adjustment quantum will be announced in the last quarter of 2018.
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