January 11, 2005
$2 for a subway ride? It's actually $1.26
Although the base fare for a subway or bus ride increased to $2 in May 2003, a new analysis from the transit agency shows that due to extensive use of discounts, the effective cost per ride is actually $1.26, according to a story in today's New York Times.
Before the hike, it was $1.04. For a half-century, until it was phased out in 2003, the token represented one simple fare. Now there are seven types of fares: single-ride tickets, regular MetroCards, regular cards bought with a bulk-purchase discount, the three unlimited-ride passes and the seven-day express-bus pass, which is also valid on subways and local buses. MetroCards with volume discounts (a $10 card gets you six rides instead of five,) now account for 32 percent of fares, the $70 30-day pass accounts for 20 percent of fares, and the $7 one-day Fun Pass pushed on tourists accounts for only 1.7 percent.
Since the fare hike, subway use fell less than 1 percent while bus ridership close to 5 percent. Daily weekday ridership is 4.5 million riders on the subways and 3 million for the buses.
Another hike on multi-use transit cards, which will take effect next month, will leave the $2 base fare unchanged.
Earlier: Transit agency hikes fees for subways, buses, bridges
January 11, 2005 08:00 AM in Cheap Stuff, Transportology
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