Last year, the largest price hikes on the Tube and buses in London over the last decade were announced, and it looks like more of that is on the horizon this year.
TfL fares are rising by 5.9% in March 2023, overtaking the jump announced in February 2022, which saw fares rise by 5% – the highest rise since 2012 when Boris Johnson raised prices by nearly 6%.
This latest rise is due to be confirmed by Mayor Sadiq Khan soon, and will be a similar jump the one eleven years ago. Prior to last year, Tube and bus prices were frozen since 2016, but this marks the second year running that TfL fares have jumped.
When is the price fare hike coming into place?
March 5, 2023 is the date marked for the price rises. In total, prices are going up by 5.9%, though this number may vary in different parts of London Underground transport network.
How much are Tube fares rising by?
Daily and weekly price caps on pay-as-you-go are rising by 6.7%, depending on how many zones you travel through. Zone One peak fares are to rise by 30p, and 20p during non-peak hours. A Zone One – Zone Two journey will go up by 30p at peak times, while Zone One to Zone Three, Four, Five and Six will rise by 10p in peak and off-peak times.
How much are bus fares rising by?
Bus fares are making another 10p jump to £1.75. Passengers can still change buses within an hour of tapping in and not be charged another fare.
Why are bus and Tube fares rising?
Mayor Sadiq Khan said: “I froze TfL fares for five years from 2016 to make transport more affordable for millions of Londoners.
“But my hands have been tied since the pandemic by the strict conditions set by the government in the recent emergency funding agreement for TfL, which means fares have to be increase in London by the same amount as National Rail fares – 5.9 percent.
“This is a challenging time for our city, with a government that is not fully funding our public services, but I’m determined to step up so that we can continue building a greener, safer and fairer London for everyone.”