Oil prices blamed for GBTA fare jump
Milk, bread, wheat and gas are all soaring at record rates ? now bus fares will join that list.
The Greater Bridgeport Transit District is expected to take a huge hit in fuel prices later this year, meaning bus fares will increase from $1.50 to $2.00 a ride. The reason ? as with everything ? is oil prices.
?Right now we?re expecting our fuel budget to increase by just under a million dollars,? says Ron Kilcoyne, the chief executive officer of GBTA.
GBTA currently pays $2.48 a gallon for fuel, but when that contract runs out at the end of October, officials expect a jump to nearly $4.50 a gallon.
?We've got to assume the worst and hope for the best,? says Kilcoyne.
The choice came down to either raising prices or eliminating some services, according to officials.
?And we think our customers, at least from past experience, would rather we raise the price than cut service,? says Kilcoyne.
GBTA will be holding public hearings on the fare increase next month, but the exact times and dates won't be announced until next week at the earliest.