OAKLAND (KCBS)— BART is ringing in the New Year with a fare increase. In case you didn’t notice or haven’t ridden yet, the transportation agency said riders can expect a 19-cent on average increase per trip.

The inflation-based program was adopted in 2003 to give riders a more predictable pattern of small-fare increases over time and has been extended through 2020 with four fare hikes every two years.

READ MORE: Oakland City Council Votes to Defund Police, Stripping More Than $17M from Department Budget

BART spokesman Jim Allison said the fare hike that took effect on Wednesday is based on the average rate of inflation from 2010 to 2012 minus half a percent.

“Fares are increasing by 5.2 percent, which is below the rate of inflation,” he said.

READ MORE: 165 Pounds Of Fireworks Seized, Man Arrested In Oakland Crackdown

The increases over the next eight years will generate $325 million according to BART. The money can only be used for improvement projects that include new rail cars, a train control system, and improvements to the Hayward maintenance facility and future expansion into the South Bay.

Parking at BART stations will also be going up by 50 cents later this month.

MORE NEWS: Menlo Park Fire Chief: Time Is Short in Search for Survivors of Florida Condo Collapse

(Copyright 2014 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)