Starting on January 8, Strætó bs. will implement a price hike on bus fares, with single ticket prices rising by 3.1% and period passes increasing by 3.7%. The new fare schedule applies only to services in the Capital Region, with no changes in rural areas, reports RÚV.
Under the new rates, a single bus fare will increase from 650 to 670 ISK [4.64 EUR, 4.80 USD], while the 30-day student and senior passes will rise from 5,400 to 5,600 ISK. Annual passes for adults will increase from 108,000 to 112,000 ISK, and youth annual passes will increase from 54,000 to 56,000 ISK. Children aged 11 and under will continue to travel for free.
Strætó stated that the price adjustments are due to an increase in the consumer price index, with wage hikes being the primary contributor to the fare changes. The new rates reflect the ongoing rise in operational costs, particularly in labour.
Jóhannes Rúnarsson, CEO of Strætó, stated that the primary reason for the fare hike was an increase in wage rates.
“These are primarily significant wage increases over the past few years. Our wage rates have risen by about 50% in recent years, and we haven’t quite managed to keep up with that. This accounts for about 50-60% of the cost,” Jóhannes said.
The new fare schedule was confirmed by the Strætó board during a meeting held on December 13.
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