Following what Boris Johnson described as "aeons of negotiation", TfL announced yesterday that Oyster services would be rolled out to every national rail station and Thames river boat in London.
The Evening Standard breaks down the fare structure below:
"The move will make some journeys cheaper as passengers will not have to buy a separate ticket for the Overground. The biggest savings will be on long journeys, such as between Surbiton in Zone 6 and Waterloo for which the off-peak price will fall from £5 to £3.20.
"The cost of travelling from East Croydon in Zone 5 to London Bridge in Zone 1 will drop from £4.40 to £2.60 — roughly 40 per cent cheaper. Shorter journeys such as a trip from Lewisham in Zone 1 to Charing Cross will cost £1.70 off-peak and £2.10 peak compared with £2.40 at present.
"Although some fares are cheaper, rail operators are expected to benefit from an increase in passenger numbers."
This is great news for Londoners and a huge step forwards in delivering a true integrated transport system in the capital. Travellers will now be able to move seamlessly across the transport network with their Oyster card.
TfL have released a new World of Oyster map (pictured) to demonstrate the breadth of journeys available to Londoners.
The new system will come into effect from 2nd January 2009.