However only 'TfL fares' are being frozen so you may find that your journey is more expensive from March, even if you only use TfL services.
What follows is my annual summary of TfL's fare rises, an analysis now in its 15thyear because having some historical perspective on this is important. Boris's years are in blue and Sadiq's in red.
Sadiq previously froze fares in 2017, 2018, 2019 and 2020 and now he's free of government funding shackles here he goes again. It's the first time he's frozen fares in the year of a Mayoral election, although some might argue 2024's timing is deliberate. Over the last ten years TfL fares have only risen by 18% whereas inflation has risen by 32%.
Cost of a single central London tube journey
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
Peak
£2.20
£2.30
£2.40
£2.40
£2.40
£2.40
£2.40
£2.40
£2.50
£2.80
£2.80
Off peak
£2.20
£2.30
£2.40
£2.40
£2.40
£2.40
£2.40
£2.40
£2.50
£2.70
£2.70
2024 may see no increase but 2023's hike to the zone 1 tube fare was the largest since the Mayoralty was introduced. It also introduced a higher fare for peak journeys for the first time, and this 10p differential is now engrained.
n.b. These are PAYG fares for Oyster or contactless users. Those who insist on paying cash are still paying £6.70.
Cost of a tube journey from Green Park to Heathrow
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
Peak
£5.00
£5.10
£5.10
£5.10
£5.10
£5.10
£5.10
£5.30
£5.50
£5.60
£5.60
Off peak
£3.00
£3.10
£3.10
£3.10
£3.10
£3.10
£3.10
£3.30
£3.50
£5.60
£5.60
Again there's no change in fare but this follows a recent significant change. In September 2022 the Mayor announced that travel from Z1 to Heathrow would always be charged at peak rates, hiking prices on the Piccadilly line by £2 overnight. This was to keep central government happy by raising revenue but without overly impacting on the daily life on Londoners. The tube fare from central London to Heathrow is to remain £5.60 at all times, but that's still massively cheaper than the £12.20 fare if you choose the convenience of Crossrail.
For travel to other stations in zone 6, not cash cow airports, the off-peak fare from zone 1 remains £3.60.
Off-peak fares outside zone 1
2020
2021
2022
2023
2024
1 zone
£1.50
£1.50
£1.60
£1.80
£1.80
2 zones
£1.50
£1.60
£1.70
£1.90
£1.90
3 zones
£1.50
£1.70
£1.80
£1.90
£1.90
4 zones
£1.50
£1.70
£1.90
£2.00
£2.00
5 zones
£1.50
£1.70
£1.90
£2.10
£2.10
No changes are being made to fares within zones 2-6 which is a relief after several years of higher than average increases. From 2016 to 2020 all off-peak tube journeys in Z2-6 cost £1.50, but since 2021 distortion of the fare scale has increased shorter suburban fares by at least 20% and longer suburban fares by up to 40%.
Cost of a single central London bus journey
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
£1.40
£1.45
£1.50
£1.50
£1.50
£1.50
£1.50
£1.55
£1.65
£1.75
£1.75
TfL are often kinder to bus passengers because they include the poorest amongst the electorate, and they too benefit from this year's fare freeze. The daily cap for bus journeys remains £5.25 (i.e. three single fares).
However daily fare caps for those who travel by tube or train are increasing by an average of 4.9%. That's because fare caps have to cover the possibility that you might have ridden on a National Rail service, and rail fares nationwide are rising 4.9% this year.
For example if you normally travel enough within zones 1-5 that you hit the fare cap, that cap'll be rising 5% from £13.90 to £14.60. With individual fares not rising, this means many travellers will no longer hit the cap and thus be charged up to 70p more. TfL calculate that 25% of the additional fare revenue they collect this year will be because the cap has lifted.
Cost of an annual Z1-3 Travelcard
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
£1472
£1508
£1520
£1548
£1600
£1648
£1696
£1740
£1808
£1916
£2008
Travelcards also rise by 4.9% in line with National Rail fares. A weekly Z1-6 Travelcard, for example, rises by £3.60 to £78.00. It also means the price of an annual Z1-3 Travelcard will exceed £2000 for the first time (and to think the first time I bought one in 2001 it was only £896).
One Day Travelcards have thankfully survived potential extinction and are also rising in price by 4.9%, or at least those within Greater London are. Only two versions are still available, a Z1-4 Travelcard for £15.90 (up 70p) or a Z1-6 Travelcard for £22.60 (up £1.10).
However those who buy One Day Travelcards from stations beyond zone 6 will find they've increased by a lot more - on average 7.9%, which is 4.9% plus the extra 3% agreed as a condition of their retention.
TfL have been trying to discourage people from using Travelcards of all kinds for many years, arguably since 2011 when they first restricted the range of zones available. They continue this passive aggressive nudging in this year's press release, which insinuates that those who continue to buy them are fools who could simply be using pay as you go.
Use PAYG and stick with TfL services within zones 1-6 and you won't notice a fare rise this year. Use a Travelcard and you will, use a National Rail train for part of your journey and you will, travel in from outside zone 6 and you will, fail to hit an increased price cap and you will.
It's not a fare freeze for everybody. But if it's a pre-election sweetener it's a very welcome one.
