The daily maximum commuters will be charged when using Pay as You Go is set to fall by as much as £4.90 next year, so those who work less than five days a week will pay no more than the equivalent daily cost of a weekly travelcard.
For the majority of Londoners who work full time- almost 80 per cent of those in the capital- the cost of commuting will become more expensive from 2 Jan 2015- the seventh yearly hike in fares in a row.
Season tickets will rise by between 2.1 and 2.5 per cent and those buying a zone 1-9 travelcard will see the biggest cash increase of £2 per week for a weekly travelcard- the equivalent of £104 a year.
Single fares will go up by as much as 5.3 per cent, or between 10 and 30 pence in cash terms. Single fares using Pay as You Go will also rise by between 10 and 20 pence per journey, a rise of between 1.8 per cent and 4.5 per cent depending on the zone.
The biggest rise affects zone 1-6 off-peak day travelcards which will rocket by 34 per cent, going from £8.90 to £12.00.
The changes to the Pay as You Go Cap are expected to cost around £20m. The move will be funded by ending paper travelcards for zones 1-2 and ending the lower off-peak Pay as You Go fare caps. The average rise across the differnet fares is in line with inflation.