4.2% average increase on buses, tubes and trains next year
Boris Johnson, Mayor of London has confirmed that from 2 January 2013 fares on London's Tubes, buses and London Overground, Dockland's Light Railway (DLR) and trams will rise on average by 4.2%
The Oyster daily price cap for TfL rail and National Rail services will be frozen, while some fares will go up by slightly more or slightly less than the 4.2 per cent average.
On buses and trams a single Pay As You Go (PAYG) fare using an Oyster card will rise to £1.40 up 3.7% The one day fare cap for buses rises by 4.8% to £4.40. The cash fare for a single journey on a bus will be £2.40.
On the Underground and other TfL rail services, PAYG fares within Zones 1 to 6 are increased by 10p or 20p. All off-peak fares increase by 10p and there are 20p increases at peak times. For many journeys outside Zone 1 this will mean fare rises of 7.1%
Child PAYG fares on Oyster have been increased by 5p.
Barclays Cycle Hire will see doubling of access fees from January 2013. 24 hour access will increase from £1 to £2, weekly access will rise from £5 to £10 and yearly membership will move from £45 to £90.
Over the next year further investment in the transport network has been promised including:
Boris Johnson said: 'Before the end of the year I will spell out further investment on the transport network that will help us to provide faster, more frequent and reliable journeys for Londoners; and is crucial to the economic development and growth that is so vital to our great city.
'This fares package is hugely important to our millions of passengers and I am very pleased to have secured nearly £100m that will help to keep fares as low as possible, and protect the important concessions that we offer the most vulnerable Londoners.'
The increases are expect to yield an extra £135 million for TfL.
November 7, 2012