Passenger Bus, Rail and Motorcoach Industry News

Effective January 1, Everett Transit will increase its fares by 25 cents for most riders. City raised fares to offset rising fuel prices and expects to generate $400,000 to $480,000 in extra revenue next year.

The latest Transit Savings Report shows that individuals who switch from driving to riding public transportation can save, on average, up to $830 this month.

Despite high gas prices and a slow economy Americans who ride public transportation save, on average, $9,968 annually and $831 per month, based on the July 14, 2011 average national gas price of $3.66 per gallon.

Americans making less than $30,000 a year (32%) are more likely than those making $75,000 or more (11%) to say they will use mass transit if gas prices rise to the $5-per-gallon range.

The University budgeted almost $772,000 in 2010 for fuel costs, but in 2011 that number jumped to almost $829,000. As part of their preparation, they partnered with the Central Ohio Transit Authority, which allows students to ride city buses by showing their BuckID at a cost to the student of $9 every quarter.

Since last month, gas prices rose another 14 cents, allowing transit riders to save an additional $10 this month. Gas prices have risen nearly $1 since the beginning of 2011, making annual transit saving $115 higher this month, compared to last.

If regular gas prices reach $4 a gallon across the nation, many experts have forecast an additional 670 million passenger trips could be expected, resulting in more than 10.8 billion trips per year.

The amount is the highest savings for public transit riders in two years.

As gas prices rise, and predictions indicate they will continue to increase throughout the year, APTA’s monthly “Transit Savings Report” notes that riding public transportation saves individuals, on average, $9,656 annually, and up to $805 per month based on the Jan. 5, 2011 average national gas price.

Enlisting FuelQuest’s services will enable the bus transportation carrier to reduce financial exposure to fuel price volatility with reduced freight and fuel costs, and automate invoice and delivery reconciliation.