MYKI fares will increase on July 1, 2023, bringing the daily full fare to $10 and $5 for concession holders.
Currently, a daily full fare is $9.20 and $4.60 for concession.
On weekends or public holidays daily fares will be capped at $7.20 and $3.60 for concessions, while currently it is $6.70 for full fare and $3.35 for concession.
Minister for Climate Action Lily D’Ambrosio said the fares will increase in line with the Consumer Price Index, CPI, with the increase already delayed for six months.
“Normally public transport fares are reconsidered or increase in January of every year. We made the decision at the beginning of the year that this would be delayed by many months. We’ve actually furthered savings for commuters through the delay in the increase in that transport fare to July this year,” she said.
During the election the State Government committed to capping regional transport fares to metropolitan fares.
Ms D’Ambrosio said regional fares would increase with metropolitan fares and that the government were ‘absolutely not ingenuous’ when regional fares were promised to be capped at metropolitan prices.
“What our election commitment was is that [regional fares] would be capped at the metropolitan rate. Of course if the metropolitan fares increase in line with CPI, and that is what is happening from July 1, then of course regional fares will be capped at that same level so they continue to be in alignment,” she said.
“To be able to deliver the services Victorians enjoy today there is always a need to understand and consider fares to allow us to deliver a service that Victorians enjoy. The regional fares remain capped at metropolitan fares and into the future Victorians will be travelling on regional transport and that extra money is in their pocket. This isn’t insignificant.”
Ms D’Ambrosio also said metropolitan fares were not increasing to offset costs of the regional fare cap.
She did not confirm if fares would increase again on January 1, 2024 in alignment with usual re-evaluation.
