New York City’s Citi Bike Increases Prices by 20%, Commuters Feel the Pinch
Starting Wednesday, the prices for the Lyft-operated service will increase by a significant 20% for both members and non-members. This sudden price hike has led some riders to contemplate the idea of abandoning the service and opting to purchase their own bicycles instead.
Citi Bike recently announced an increase in prices for its bike-sharing service, which spans across the boroughs and New Jersey.
Annual fees for Classic and ebike usage will see a slight increase for Citi Bike or Lyft Pink All Access members, going from 20 cents to 24 cents per minute. Similarly, non-member single-ride fees will also experience a small increase, rising from 30 to 36 cents per minute.
Rides in New York City will be subject to a price increase, while those in New Jersey will remain unaffected.
Lyft explained that the increase in costs was due to unexpected expenses related to battery swapping, insurance, and vehicle maintenance. These unforeseen factors have made operations more expensive than initially anticipated.
Riders have expressed their dissatisfaction with the condition of their bicycles, stating that the soaring coasts do not accurately reflect the state of their rides. Some riders have even mentioned that their bicycles are in need of tune-ups.
In 2013, Citi Bike made its initial appearance with 6,000 bikes and 332 stations in Manhattan and Brooklyn, as reported by city statistics. The private operation has become increasingly popular as a transit option in recent years, with Adams even promising to allocate funds for it during his mayoral campaign. However, there is no sign of it being included in the city budget.
According to a report by Hell Gate, Citi Bike riders may have to pay higher fees per ride by the end of the year, as per the agreement between Citi Bike and the city.
There is a possibility of a further 20% increase in rates, but any price hikes will be limited to around 5% starting next year, in line with the previous year’s inflation rate as reported by The Post.
The future of Lyft remains uncertain after the company announced its intention to sell Citi Bike in 2023, casting doubt on the possibility of additional hikes, according to a report published by the city Comptroller’s Office last year.
