Some Go Saver ticket prices are also set to increase
Isle of Man Transport is scrapping the 60 pence three-stop fare.
In an announcement on social media, the new minimum cost will be £1.10, which the organisation says compares 'well' with many areas across the UK.
Meanwhile the transport body has also confirmed price rises for some Go Saver tickets which will come into force next Monday (8 May).
The price for the 1 Day Saver remains unchanged however the 3 Day Saver increases by £1 for adult tickets and 50 pence for a child to £17.50 and £8.50 respectively.
The 7 Day Saver increases to £28 pounds for adults and £14 for children and the 5 Day Saver rises to £23 for adults and £11.50 for children.
There'll be no change to the Go Places and Go Easy cards.
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