Rail prices set to shoot up

More UK travellers may opt for long term car hire in future after hearing that rail ticket prices are set to shoot up by eight per cent in 2012, with some routes potentially seeing a 13 per cent rise.

Train companies have been given permission to raise their rates by the July retail prices index figure, which the Bank of England has revealed was five per cent, plus three percentage points, reported the Evening Standard.

The price hike is unlikely to be well received by British families already struggling with their finances and could inspire them to consider other alternatives for getting to work.

In an interview with the newspaper, commercial director at the Association of Train Operating Companies, David Mapp, said: "The government has decided that many fares need to rise above inflation for the next three years to help pay for more trains, better stations and faster services."

The Guardian pointed out that not all rail companies are opting to increase their prices by this amount and stressed that the average rise cannot exceed eight per cent, with no ticket going up by more than 13 per cent.

It noted that many of the tickets that face being hit with the price hike will be regulated fares - which include season passes and off-peak saver options - but others are likely to go up as well.