SG: Transport fares unlikely to fall

Even though there has been a recent fall in oil prices, transport fares are unlike to decline, as the fare increase for 2015 was originally scheduled to take effect last year, but was delayed. Based on current oil prices, do expect a drop in public transport fares next year by about 1%. Fuel prices are not the only thing the PTC takes into consideration when increasing or decreasing the fares. The fares are also calculated through inflation and wages, and apparently, energy makes up a mere 20 percent of the fare adjustment quantum.Pictures used for illustration purposes only.