Citi Bike raises prices by whopping 20% in latest crunch on NYC commuters
Some Citi Bike users may be riding off into the sunset.
The Lyft-operated service will hike its prices a whopping 20% for members and non-members on Wednesday – leaving some riders to consider ditching the service and buying their own bicycles instead.
“I just don’t really like taking the train so I use Citi Bikes but at this point it just seems more affordable to get your own bike,” Travontae Gorman told The Post at a Manhattan charging bank location.
“It’s going to equal out to two or three of these rides with the continued increase.”
Harlem resident Blessing Watson, 24, fumed the price was getting “ridiculous” as she considered buying her own ride too.
“They are just too expensive for how they work and the quality,” Watson said.
Citi Bike – which provides over 30,000 bikes across the boroughs and New Jersey – announced the price hike earlier this month.
Classic and ebike fees for annual Citi Bike or Lyft Pink All Access members will increase from 20 cents to 24 cents per minute, and non-member single ride fees will increase from 30 to 36 cents per minute.
The price increase will only affect rides in New York City, not New Jersey.
Lyft attributed the extra cost spike to “higher than anticipated” battery swapping, insurance and maintenance vehicle costs, making “operations more costly than planned.”
Riders said the soaring coasts aren’t reflective of the condition of their rides, with some claiming the bicycles are sometimes in need of tune ups.
“Sometimes if I’m just going one way or even upgrading to ebike if I’m going a long distance, I prefer that than taking the subway so I’ll pay an extra 15 cents a minute or whatever,” said Joe Leding, 32, who lives on the Upper East Side.
“But it’s simply getting just to the point of me abandoning ship,” he added.
Citi Bike first debuted in 2013 with 6,000 bikes and 332 stations in Manhattan and Brooklyn, according to city stats. The private operation has gained so much popularity as a transit option in the last decade that Adams once pledged to fund it as a mayoral candidate – but a line item in the city budget has yet to be seen.
Citi Bike riders could be coughing up even more cash per ride before the end of the year, according to Citi Bike’s agreement with the city, Hell Gate reported. Those rates could be raised another 20%, with price increases to be capped about 5% starting next year based on the inflation rate from the year prior.
It’s unclear whether those additional hikes will be realized after Lyft declared its intention to sell Citi Bike in 2023, leaving the company’s future “uncertain,” the city Comptroller’s Office wrote in a report published last year.
“Another private company may opt to purchase the system, or the City could choose to publicly fund it,” the report reads. “Both scenarios carry challenges for the management and maintenance of the system.
“Lyft’s downturn poses serious challenges for the City of New York, which has come to depend on Citi Bike as an essential transportation service,” the report added.
Citi Bike users aren’t the only ones set to pay a bit more for their commute this summer.
NJ Transit riders have been shelling out 15% more for bus, railroad and light rail lines since the system’s own rate hike started July 1. That hike went into effect just days after service between New York City and New Jersey was delayed or suspended at least four times in the same week.
MTA subway, bus and commuter railroad riders can expect another fare increase next year, according to the MTA’s five-year plan, which assumes an increase of 4 percent in 2025 and another 4 percent increase in 2027 – raising a single ride ticket to about $3 and $3.14, respectively.
MTA fares for subways, buses and commuter railroads as well as LIRR and Metro-North fares, increased Aug. 20, bringing the cost of a single subway ride from $2.75 to $2.90.
Drivers aren’t exempt from the commuting cost climb, either. The Port Authority of New York and New Jersey upped its toll 63 cents in January, with the toll for E-ZPass users increasing 4.3% to $15.38 from $14.75 during peak hours.
The Hampton Jitney shuttle to the East End of Long Island warned it may be hiking ticket prices after congestion pricing goes into effect. Under the proposed congestion pricing plan, Jitney would need to shell out 30 percent more for a round trip through the tunnel with an E-ZPass.
NYC Ferry prices aren’t expected to budge anytime soon following the last increase in 2022 from $2.75 to $4, though the independent Citizens Budget Commission noted at the time that fares were too low for the highly subsidized initiative.
At the time of the fare increase, the CBC encouraged the New York City Economic Development Corporation to,“if appropriate, increase fares or change routes and timetables, even if they decrease ridership but allow redeployment of subsidy dollars to other high-value initiatives.”
