MILLIONS of commuters will pay more for their train tickets from 2024 after a year of strikes crippled the network.
Fares will be hiked by 4.9% next year, the Department for Transport has announced.
AlamyTrain fares will rise by 4.9% from next March[/caption]
Rail fares usually rise each year and the government has stepped in again to cap them amid soaring inflation.
Earlier this year it promised that ticket prices would rise by less than 9% – the inflation figure for July that is usually used to hike costs.
Rail fares went up by 5.9% earlier this year – the biggest hike in a decade – but far below the July 2022 inflation rate of 12.3%.
The hike applies to fares regulated by the Government such as season tickets on most commuter journeys and some off-peak return tickets on long distance routes.
Train companies can set their own ticket prices on unregulated fares.
The 4.9% rise will come in from March 3, 2024, ticket prices in England.
Transport secretary Mark Harper said: “Having met our target of halving inflation across the economy, this is a significant intervention by the Government to cap the increase in rail fares below last year’s rise.
“Changed working patterns after the pandemic mean that our railways are still losing money and require significant subsidies, so this rise strikes a balance to keep our railways running, while not overburdening passengers.
“We remain committed to supporting the rail sector reform outdated working practices to help put it on a sustainable financial footing.”
The DfT said its actions will keep regulated fares more than 9% lower than they would have been if increases matched inflation in the last two years.
However, the 4.9% increase will still see millions of commuters having to pay out more for their rail journeys.
The current cost of a weekly commute from Oxford to London is £6,096, which will rise to £6,394 from March next year – £298 more.
Meanwhile, a season ticket from Tunbridge Wells to London will rise by £372 to £5,829.
It comes after a year of train strikes, which crippled the network and left thousands of commuters scrambling to get to work.
Rail bosses were seen enjoying a glitzy Christmas dinner earlier this month despite the rail misery.
The Scottish Government announced on Wednesday that all ScotRail fares will rise by 8.7% from April 1.
How to save money on your train ticket
Here are some top tips to help you save cash on rail fares.
Split tickets
If you’re taking a lengthy train journey then you could save hundreds of pounds by splitting your tickets.
You won’t need to change trains and National Rail lets you split your ticket as long as the train calls at the station you buy the tickets for.
One site that works this out for you is Splitticketing.co.uk.
Buy a season ticket
Regular travellers should be able to save by purchasing either a seven day, monthly or annual season ticket, which will allow them to make the journey an unlimited number of times as long as it’s valid.
If you’re making the same journey on three or more days a week, then a seven-day season ticket is likely to save you money, compared to buying a new one every day.
You can check to see if a season ticket will save you money on your trip with National Rail’s season ticket calculator.
Book at least 12 weeks in advance
Network Rail releases its timetable 12 weeks in advance, so ticket firms usually make their fares available at this time.
Just like plane tickets, the earlier you book the lower the price you’ll pay for your seat.
You can sign up to the Trainline’s ticket alert service and it will tell you when cheap advance tickets go on sale for a particular journey.
Also, the National Rail’s future travel chart shows the furthest advance date that you can buy tickets.
Save money with a Railcard
If you’re a regular traveller then a railcard should shave a third off the price of your ticket.
Just make sure you’ll make more in savings over a year than the price of the Railcard.
See Railcard.co.uk for more information.