NJ Transit riders will not see fare hikes this year, but 2010 may be a different story.

NJ Transit Executive Director Richard Sarles said the agency will not raise ticket prices for bus, train and light-rail in the fiscal year starting July 1.

However, he did not rule out a fare hike for the budget year starting July 1, 2010. Sarles said the agency will have to assess the economy, ridership levels and other factors before making a decision.

Sarles said the agency has recently been raising fares every two or three years, but at one point went roughly a decade without an increase.

Sarles was named the Executive Director of NJ Transit during a special meeting of the Corporation’s Board of Directors on April 2, 2007.

(Source: CBS News)