Starting on October 15, you will have to pay more to travel on a Saskatchewan Transportation Company bus.

The government-owned bus company is increasing fares by an average of 4.7 per cent, which is about a $1.55 per ticket.

"There have been significant industry challenges since 2011 that are affecting STC's revenues," STC CEO Shawn Grice said in a news release. "STC has taken a number of steps over the past year to reduce costs and to mitigate these negative impacts."

Despite the increase, the government still provides a subsidy of about $10 million per year to keep the company operating.

STC last increased passenger rates in January 2013.