Metro-North Railroad will hike its fares by more than 15 percent over the next three years, making the trip down to New York most costly than ever.

The fare increase, announced by the Connecticut Department of Transportation on Monday, is the first since 2005 and takes into account inflation and the introduction of new M-8 cars on the New Haven line, said Commissioner James Redeker in a press release. While a one-way peak ticket between New York and the Elm City currently costs $18.50, by 2015 that could jump to $22.25, according to the proposed fares on the Metropolitan Transportation Authority’s website.

“While operating costs continue to go up, now that state budget issues have been resolved, we can live with something less from the fare box,” Redeker said in the statement. Metro-North Railroad’s operating costs have risen 12 percent since January 2005, according to the Department of Transportation.

But the fare hikes are unnecessary and will not be used to improve service, Jim Cameron, chairman of the state’s Rail Commuter Council, told CT News Junkie. He said the increased fares would go towards helping balance the state’s budget, which has been strained in recent years due to the economic downturn.

Under the Department of Transportation’s plan, the cost of CTTransit bus tickets will also rise 12 percent over the next three years.