Fare hike in New York City; new rates to take effect from January 4; increase is unavoidable, says MTA.

The New York City Transit Authority (MTA) has approved increases in subway, bus, and rail fares, as well as tolls. The hike will take effect from January 4, imposing additional financial burdens on millions of commuters in the city.

Under the new increase, the base fare for subways and buses will rise by 10 cents to $3. Weekly and monthly commuter rail passes will increase by up to 4.5%, while tolls for bridges and tunnels will go up by 7.5%.

The MTA stated that the fare hike is necessary to cover rising operating costs and to modernize the transit system. The increase also helps fund the phase-out of the decades-old MetroCard system and the implementation of new technologies such as the OMNY tap-and-go system. The agency aims to make the city’s transit network more efficient through these changes.