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Toll is a fee collected for the use of the road, bridge, tunnel, etc. to recover
the total capital outlay which includes interest on outlay, cost of repairs,
maintenance and also expenses on collection of toll.
Hence the amount of toll should not exceed the benefits which the user receive
while using the toll road.
The benefits are due to savings in travel time, travel cost, increase in comfort
and convenience.
The toll structure should be fixed in such a way that investments and expenses
are recovered within a reasonable period of time.
The product of optimum toll rate and traffic volume finally determines the gross
toll revenue.
Two important factors determine the toll rates.
They are:
- Traffic Volume: Determining the traffic volume that will be using the
facility is the most important factor.
Success of any toll will virtually depend on the accurate estimation and
forecasting of toll traffic and its composition.
- Willingness to pay: Users will be willing to pay a realizable portion of
their savings to use the improved facility.
As mentioned above the toll rates should not be more than savings derived by the
road user by using the facility.
The savings will be perceived differently by people of different category and
people using different modes.
For public transport user, he/she is not concerned with vehicle operating cost.
Instead, he/she is concerned with the fare to be paid for the unit distance
travelled.
But for private mode, the user is concerned with the vehicle operating cost and
travel time saved.
Travel distance, travel time and toll are taken as deterrence measure.
Maximum limit of toll as a deterrence is found, beyond which the suggested
shortest path becomes uneconomical.
Two factors are to be considered before fixing the optimum toll.
They are:
- Toll rate should be fixed in such a way that a vehicle owner should not
shy away from using the facility.
- The operator should get maximum toll revenue so that it can recover the
total outlay cost in a reasonable period.
Toll rates of all the vehicles are obtained after including the maintenance cost
and the interest on construction cost to the total outlay cost [1].
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