PUBLIC TRANSPORT FARES INCREASE BY 2.8% DESPITE CRASH IN FUEL PRICES

The Public Transport Council (PTC) announced an overall increase of 2.8% for public transportation starting April 2015. They did however maintain fares for senior citizens, and existing monthly travel concession prices will remain. The Transport Ministry separately announced on that fares for lower-wage workers and persons with disabilities will not increase, while the monthly concession pass for persons with disabilities will remain at S$60 per month.

Despite this 2.8% increase, the PTC stressed that more than 1.1 million commuters will not have fare increase.

From April 5 this year, adult card fares for buses and trains will increase by 2 to 5 cents, while student concessionary fares will increase by 1 cent. Cash fares for adult bus and train rides will increase by 10 cents, while senior and student cash fares will remain unchanged.

The prices of all monthly concession passes for adults, National Servicemen and senior citizens will remain the same, it reiterated.

In exchange for the fare increase, the two public transport operators – SBS Transit and SMRT – contributed S$5.5 million and S$8 million to the Public Transport Fund.

The Public Transport Fund will provide Public Transport Vouchers to lower-income households to reduce the increase in their travel expenditure

Despite these measures to ensure regular Singaporeans are not adversely affected, it is curious to note that despite an almost 50% crash in fuel prices, public transport operators insist on increasing their fares. Shouldn’t public transportation fares be dropping accordingly just like petrol prices?

Why is it that fares always increase once fuel prices increase but when fuel prices fall, fares do not fall correspondingly?

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