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Bus, train fares to fall 1.9% on oil prices
BUS and train fares will fall by 1.9 per cent due to lower oil prices - translating to an approximate S$36.1 million fall in fare revenue for the transport operators - the fare review by the Public Transport Council (PTC) showed on Friday.
Adult fares will be lowered by between one and four Singapore cents from Dec 27, the same day Downtown Line 2 opens.
The 1.9 per cent reduction is the maximum that can be cut, according to the fare formula. This accounts for inflation, wages, and energy costs. Inflation and wages make up 80 per cent of the weightage, while energy makes up the rest. The final figure also deducts 0.5 per cent that represents the transport operators' expected gain in productivity.