New York City commuters should brace for a price hike. The MTA board on Tuesday approved a fare increase bumping the cost of a single subway or bus ride to $3 from the current $2.90. “It’s always painful to do fare increases, but it’s responsive to what we’ve heard from riders and preserves affordability,” MTA Chair Janno Lieber said. The changes will land as the MTA retires the MetroCard, requiring all riders to use the agency’s tap-to-pay OMNY system. The board voted to eliminate the 30-day unlimited ride option for the subways and buses, but the MTA will continue to implement “fare capping,” which limits the amount riders spend on transit rides in a seven-day period.