May 24, 2006
TriMet has proposed a five-cent fare increase to help cover the cost of inflation. If approved by the TriMet Board of Directors at its June 28th meeting, the increase would take effect in September.
Proposed fare increase
2-Zone cash fare would increase 5 cents to $1.70
All-Zone cash fares would increase 5 cents to $2.00
All monthly passes would increase $2.00
The proposed fare increase covers only the increased cost of doing business. It does not address the $4.3 million deficit caused by record high diesel prices since Fiscal Year 2005.
TriMet purchases about 6.5 millions gallons of diesel annually, and budgets diesel at $2.15 per gallon. During the month of May, TriMet averaged $2.48 per gallon.
Under TriMet's Diesel Cost Response Policy an additional fare increase may be needed to balance the budget. If diesel prices remain at the current level, it is likely that an additional nickel will be proposed for a total of a 10-cent fare increase in September.