London Mayor Sadiq Khan has announced a freeze to all single pay-as-you-go fares on the Tube and buses until March 2025. This means that the price for anyone tapping in and out with their contactless card or Oyster Card on a one-way journey will not see a hike in prices, as was the case last year.
It comes as a boost to many, as it was found that these journeys account for 74% of those made on the travel network. These prices were due to go up by 20p in line with government set-fare increases. They will remain at £1.75 for a bus fare and single adult fares in Zone 1-3 of the Tube will continue to cost £3.70 at peak times and £3 at weekends and off-peak times.
Prices will, however, be increased for those who make multiple journeys on TfL, with travelcards and both daily and weekly fare caps on pay-as-you-go journeys set to go up by 4.9% in the springtime. Zone 1-4 travelcards are to go up from £15.20 to £15.90, and those in Zone 1-6 will jump from £21.50 to £22.60 for travel at peak times and £15.20 to £15.90 for off-peak. Day travelcards for those outside the city are also rising in price by 3%.
It marks the first time fares have been frozen since the period between 2016-2021, which included a freeze during the height of the global Covid pandemic. Sadiq Khan has said he would provide £123m worth of extra funding to TfL to keep the fares from rising amid the high cost of living and to assist the continued recovery from the damage since the pandemic.
Speaking about the freeze to single fares on buses and the Tube, Mayor Sadiq Khan said: “Not only will this put money back in people’s pockets, making transport more affordable for millions of Londoners, but will encourage people back onto our public transport network. This will help to boost London’s culture, retail and hospitality sectors.”
