Fares on the Underground, DLR, buses and suburban rail services will rise by an average of 4.2 per cent in the new year, above the rate of inflation.
The cost of a weekly Zones 1-2 travelcard will rise by £1.20 to £30.40, while the price of a single tube ticket for the same area will cost £2.80, up 10p.
A one-way peak ticket for Zones 1-6 will hit £5 for the first time.
Lib Dem Assembly Member Caroline Pidgeon accused the Mayor of attempting to “bury bad news” by releasing details of the hikes yesterday. But a Transport for London spokesman insisted that the announcement came immediately after a board meeting that had been arranged months in advance.
Meanwhile the cost of joining the Barclays Cycle Hire scheme – nicknamed Boris bikes – will double from £45 to £90 a year. TfL say this will help support future expansion of the scheme and represents the fact that cycle hire pricing was “set very low at the beginning”.