Good news (maybe) for all commuters — public transport fares may drop by a stunningly generous amount of 1 percent next year.
Transport Minister Lui Tuck Yew remarked yesterday in Parliament that the drop in 2014's energy prices could very well translate to a negative fare adjustment, and based on the available data it could be in the region of a negative 1 percent.
He was replying to Member of Parliament Gan Thiam Poh regarding the ongoing fare review exercise by the Public Transport Council, and whether the council will consider a reduction of transport fares due to the reduction in oil prices.
Rather unsurprisingly, both SBS transit and SMRT have applied for fares to increased, despite the drop in oil prices. The results of the current fare review are set to be announced in the first quarter.
Photo: Simon Clancy via Flickr
Good news (maybe) for all commuters — public transport fares may drop by a stunningly generous amount of 1 percent next year.
Transport Minister Lui Tuck Yew remarked yesterday in Parliament that the drop in 2014's energy prices could very well translate to a negative fare adjustment, and based on the available data it could be in the region of a negative 1 percent.
He was replying to Member of Parliament Gan Thiam Poh regarding the ongoing fare review exercise by the Public Transport Council, and whether the council will consider a reduction of transport fares due to the reduction in oil prices.
Rather unsurprisingly, both SBS transit and SMRT have applied for fares to increased, despite the drop in oil prices. The results of the current fare review are set to be announced in the first quarter.
Photo: Simon Clancy via Flickr