Lower bus, train fares from December 30
Bus and train commuters paying by fare cards are set for a reduction of 1 to 27 cents, or 4.2 per cent, said the Public Transport Council (PTC) on Thursday (27 October).
The PTC added that this will be followed by a further 1.5 per cent reduction in 2018, with falling energy prices cited as a key factor.
With a shift towards distance-based fares for all rail lines, those riding fully-underground lines like the North-East Line (NEL), Circle Line (CCL) and Downtown Line (DTL) could see fares go down even further.
This is because fares for fully-underground rail lines will be lowered to match fares for above-ground rail lines.
The fare reduction is calculated using a formula pegged to changes in the Core Consumer Price Index, the Wage Index and the Energy Index over the preceding year.
Adult fares will be lowered by one to 27 cents, while fares for senior citizens will go down by one to seven cents. Student concessionary card fares will be reduced by 1 cent. Prices of monthly concessionary passes and monthly travel passes will stay the same.
Richard Magnus, PTC Chairman said, “The lower energy prices in 2015 have allowed PTC to reduce all card fares. A prudent and balanced approach is however necessary to ensure the longer term sustainability of our public transport system. We will continue monitoring this closely.”
The fare reduction translates to a loss of about $79 million in fare revenue for the year.
The Land Transport Authority will bear the brunt of this at $35.6 million, followed by SMRT at $34.6 million, and SBS Transit at $8.9 million.
