Singapore, Oct 23 (IANS) Singapore’s public transport fares will be reduced by 1.9 percent from December 27, officials announced on Friday.
This is the maximum allowable fare reduction based on the fare adjustment formula, which takes into account wages, core inflation and energy costs, the Public Transport Council (PTC) said.
The council said that while wages and other operating expenditure went up last year, energy prices were down substantively, Channel News Asia reported.
It is also the first time that fares in the city are being reduced since 2010.
With the revision, adult card fares will be lowered by 1 to 4 cents, depending on travel distance, and student and senior citizen concessionary card fares will go down by 1 to 2 cents.
However, the prices of all monthly concession passes, monthly travel passes, cash fares and single trip ticket fares, will remain unchanged.
The PTC added that an estimated 2.2 million commuters are expected to benefit from the fare revision.