Happy fare hike Monday. Here's how much more it'll cost you to ride NJ Transit

A 15% fare hike takes effect on Monday, July 1, followed by an indefinite 3% annual increase afterward starting in 2025. Given how the commutes have been lately ..., which has been reeling from a series of service suspensions and delays between New York and New Jersey, implemented itsthe 15% fare increase for bus, train and light rail riders to take effect July 1, 2024. There will be a 3% annual increase indefinitely starting July 1, 2025.

NJ Transit's hike, which was initially proposed in late January, comes after the agency's preliminary estimates for Fiscal Year 2025 found a budget deficit of $119 million. The new prices hope to help close that budget gap. Officials have known for a few years that they would run into this fiscal dead end. Even though NJ Transit ridership has reached about 80% of its pre-COVID levels, the agency is entering its fifth consecutive year of ridership below pre-pandemic levels. This low ridership has resulted in the loss of nearly $2 billion in fares, according to NJ Transit.

Despite NJ Transit using federal COVID relief funds over a few years to offset the loss, the funding will be exhausted in Fiscal Year 2025, the agency said.NJ Transit and Amtrak trains are running once again at Penn Station after power issues and a brush fire in New Jersey halted service — but the evening commute is anything but easy, as one of the busiest transit hubs in the world turned into a complete mess again for commuters. NBC New York's Checkey Beckford reports.

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