Boris Johnson will announce above inflation price hikes on bus and tube fares today, after failing to finance gaps left from scrapping the higher Congestion Charge and Venezuelan oil schemes.
Figures released to today's Budget and Performance Committee show that TfL had expected to reap up to £100 million pounds in revenue over the next two years from the £25 congestion charge.
The cancellation of the Venezuelan 'oil deal' had also led to Tfl handing back around £7 million to Venezuela and will leave another estimated £17 million hole in their budget every year.
Tube contracts and wages are also up, with Boris Johnson seemingly failing to negotiate his mythical no-strike deal.
These factors along with rising oil prices and the looming black hole which is the new fleet of Routemasters, means that today's rises are almost inevitable.
However, what was even more inevitable was his attempts to blame the rises on his predecessor Ken Livingstone.
After a few days in which he looked to be moving away from his seemingly permanent election mode, Boris has once again reverted to his default position of blaming Ken.
In a series of evening briefings journalists were told of the £80 million 'black hole' left by Ken's 'cynical' decision to freeze fares last year.
But with his own 'cynical' failure to mention expected fare rises during the election campaign, I think we can take this for the extended electioneering that it is.
-Update- A statement from Ken Livingstone in the comments
-Update- The figures are taken apart by Boris Watch
-Update- Mike Tuffrey of the Lib Dems anticipated this.
-Update- Val Shawcross of Labour on a 'cheap political shot'
-Update- Darren Johnson on the cost of being car-friendly
-Update- Bob Crow puts his own penny's worth in.
-Update- Full details now online. Some good and bad news