Photo by ep_jhuMetro experienced a six percent drop in ridership during the first six months of the 2013 fiscal year, according to statistics released by the transit agency. But at the same time, revenue is up by more than $15 million over the same period a year before.
The reason why is probably a bit obvious: Higher fares that went into effect last July 1 have riders paying five percent more than what they paid from 2010 to 2012. Still, The Washington Examiner reports that Metro is still $20.2 million short of what it projected to take in after the fare increases went into effect.
A Metro report cited by the Examiner credits the drop in ridership to outside events, but even that isn’t enough to cover the gap between expected and actual revenue:
The report also attributed ridership drops to Hurricane Sandy and the Christmas Eve federal holiday. The former closed Metrorail for two days in October, leading to 1.4 million fewer riders and $4 million in lost revenue, according to the report. The latter lost 300,000 riders and $800,000.
Metro previously raised its fares in 2010. Last year’s fare hike was designed to close a $103 million budget gap in fiscal year 2013.