The MTA’s new MetroCard prices will go into effect on Sunday, March 19th. Though the fare for a single ride will remain $2.75, weekly and monthly MetroCards will both see increases.
At a board meeting held back in January, the agency voted against a plan that would have increased the single ride fare to $3 but give purchasers a 16 percent bonus on $6 and up MetroCard purchases. Instead, the agency opted for a plan that will allow single ride fares to remain the same, however, the bonus with a $5.50 MetroCard purchase will decrease from its current rate of 11 percent down to five percent.
Under the hike, a weekly MetroCard will increase from $31 to $32; the monthly pass increase from $116.50 to $121; and the 7-Day Express Bus Plus MetroCard will rise from $57.25 to $59.50.
The MTA recently reported a decline in subway ridership for the first time since 2009, blaming things like overcrowded trains, service outages, and competition from ride-sharing apps as the reason for the dip. The agency plans to invest $4 billion towards modernizing the dated signal system, however, with Governor Cuomo recently slashing $65 million from the MTA’s budget, who knows when the project will be completed.