London Cycle Hire costs double today

Yearly membership for Boris Bikes was £45, is now £90. 24 hour access to Boris Bikes will now cost £2, rather than £1
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As from today, the first working day of 2013 for many, price fares have risen across public transport networks in the UK, including for London's Barclays Cycle Hire.

While hiring a 'Boris Bike' will still be free for the first 30 minutes, 24 hour access will increased from £1 to £2 and weekly access will rise from £5 to £10. Yearly membership has risen from £45 to £90.

TfL has calculated that annual members pay as little roughly 25p per day for unlimited journeys under 30 minutes.

Why the rises? It's for improvements to the future operation of the scheme says TfL, which also pointed out it is the first fee rise for London's bike hire scheme since it launched in 2010.

Will the rises encourage regular cycle hire users to buy a bike of their own? Or will they take the rises on the chin and stump up for the extra cash? Put in a wider context, London's Oyster pay as you go fare will rise by 10p to £1.40 with an average increase of 4.2 per cent for journeys on the Tube, Overground DLR and trams, so Boris Bikes are still going to be a cheap option for getting around London.

Charges for late return, non-return or bicycle damage will not rise.

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