GO Transit fares are set to go up by 15 cents per ride on March 15, pending approval from a board meeting to be held on Friday.

Board members will vote on whether to raise fares, which will go up by 15 cents for an adult, single-ride pass. A 10-ride pass will go from $53.50 to $54.75 and a monthly pass will cost $195 instead of the current $190. The increase will also apply to discount fares.

If approved, it will be the first fare increase the commuter transit system has undertaken in two years. The last one raised single-ride fares by 25 cents.

The price hike comes after a year that saw many new services offered by GO, including train service to Barrie, additional buses along the Highway 407 and Lakeshore corridors and the new Lisgar station in Mississauga.

And like drivers and homeowners across the province, the system also has to contend with skyrocketing energy costs, said GO's Manager of Marketing and Communications, Ed Shea.

Considering the hassles and costs involved in operating a car in the Greater Toronto Area, Shea thinks the GO will remain an attractive alternative despite the elevated fare.

"Compared to driving, we think it's a very affordable way to get around," he told toronto.ctv.ca.

More than 200,000 riders take use the GO system every weekday.