A new Strætó board meeting record states that fares will increase by 3-3.4 percent as of January 1, reports mbl.is. “In line with the assumptions of the 2026 financial plan, the board approved raising fares by 3-3.4 percent from January 1, 2026,” the minutes read.

“This is simply in line with the fare policy the board adopted a few years ago, aiming to keep prices in step with the consumer price index. The national economic forecast predicts the index will rise by three and a half percent next year, if I remember correctly,” Jóhannes Svavar Rúnarsson, CEO of Strætó, told mbl.is.

Currently, a single fare costs 670 ISK, or about 5.30 USD / 4.59 EUR. A 3.4 percent increase would amount to roughly 22.78 ISK.

Whether the quality of Strætó services will rise alongside the higher fares is unclear. Just yesterday, a Strætó bus struck an employee of the preschool Ævintýraborg on Nauthólsvegur in Reykjavík, as well as the employee’s child. According to Vísir, both escaped without serious injuries.

In an email from the preschool director to parents, it was noted that several children and their parents witnessed the accident. Parents were assured that those involved are doing well.

“Other staff members witnessed the accident, and understandably everyone is shaken today. On top of this, we are rather short-staffed, so we ask parents to pick up their children earlier today if possible,” reads the email.

Jóhannes Svavar Rúnarsson told Vísir he has no further details about the incident, other than that no one was transported by ambulance.