London tube and bus fares will go up by 6% from March

Just as Londoners resigned themselves to another year of continual public transport disruption, with a series of strikes affecting tubes, buses, rail and Overground services that are continuing into 2023, now the cost of their often-non-existent travel is set to go up significantly.

How much will tube and bus fares rise by?

It’s been announced that fares across the TfL network – that’s buses, tubes and some trains – will rise by 5.9 percent this year. It’s the biggest rise in fares for a decade. It’s also worth remembering that there was a 5 percent increase in TfL fares this time last year. Bus fares will go up by another 10p (like last year), meaning a single journey will now cost £1.75. The daily and weekly price caps on pay-as-you-go tube fares will increase by up to 6.7 percent, depending on the number of fare zones travelled. The rise had been on the cards for a while, with Sadiq dues to make a final call on it.

When does the price increase come into effect?

TfL fares will go up from March 2023. 

Why are fares going up?

It’s part of TfL’s long-term strategy to get the network back on a more stable financial footing following the ravages inflicted by the pandemic and lockdowns. The organisation is seeking to generate £6 billion a year in fare revenue over the next few years, a 40 percent increase.   

Any other bad news for Londoners?

Naturally. London commuters can expect a similar price increase for TfL fares this time next year as well. Oh, and restrictions on over-60s travelling for free before 9am that was introduced during the pandemic is now being made permanent, supposedly generating an extra £40m a year in revenue.

Full details of TfL fares can be found here

London rail and tube strikes through February and beyond.

Two out of five trains in London were disrupted last year.