Photo by Ghost_bear

Word coming out of today’s Metro board meeting, which ended up going into a closed-door executive session “lunch break” for the bulk of the afternoon, is that an agreement is in place to raise fares. CORRECTION: This afternoon’s negotiations took place not during an official executive session, but rather an informal meal break. See GGW for more on that.

The board declined to give final approval to the 2011 budget Thursday, but did agree to provide WMATA with formal guidance on the new fare structure so that signage and fare gates can be updated in time for the fiscal year to begin on July 1. A final vote is expected June 24.

Details about the actual fare structure within the agreement are still not available, but sources tell DCist that it has changed from the original proposal, which would have raised the base regular Metrorail fare from $1.65 to $1.90. The new base fare may be slightly higher than expected. A 20-cent peak-of-the-peak surcharge, which would be in effect from 7:30-9 a.m. and 4:30-6 p.m. on weekdays, is also believed to be included in the agreement.

We’ll update just as soon as WMATA releases the details.