Greater Manchester and West Yorkshire are the first regions to adopt the price cap, and Liverpool City Region is scheduled to do so on September 18.

On Saturday, the Department for Transport made the announcement that a maximum fare of £2 per journey will be in effect throughout England from January to March of next year.

Starting on Sunday, the maximum price for a single travel will be restricted at £2 for adults and £1 for children throughout Greater Manchester.

The bus fare restriction 'comes at a vital time,' according to Andy Burnham, the Mayor of Greater Manchester. (Peter Byrne/PA) / PA Wire

Adults will be need to pay £5 each day, while children will be required to pay £2.50 for unrestricted travel during that day.

According to the Greater Manchester Combined Authority, customers would see savings of "approximately 50 percent on some routes" as a result of the initiative, which is being implemented one year earlier than it was originally scheduled to in order to assist with the rising cost of living.

In the past, the city region offered more than 25 single adult fares with prices that were higher than £2.

Andy Burnham, the governor of Greater Manchester, was quoted as saying the following when the cap was introduced a month ago: "The introduction of lower, simpler prices throughout our bus network means the biggest shake-up of our bus system in close to 40 years and comes at a vital time."

"Hundreds of thousands of households throughout Greater Manchester are deeply concerned about their financial situations, with fears that even greater costs are just over the way."

In West Yorkshire, where cities like Leeds, Bradford, and Huddersfield are located, the maximum price for a single travel will likewise be set at £2.

With a ticket purchased through the MCard app, passengers will be able to make an unlimited number of travels for the daily price of £4.50.

The combined authority said that this results in a savings of "nearly twenty percent" in comparison to the existing pricing.

"You can hop on a bus from Huddersfield to Halifax, or Bradford to Bingley, and know that you won't have to spend more than £2 for your trip," said Tracy Brabin, the mayor of West Yorkshire. "

"In light of the fact that our communities are grappling with a debilitating cost-of-living issue, we are determined to do what we can to assist in easing the burden."

Last month, severe cuts to bus routes in England were avoided because to fresh money from the government. It was revealed that £130 million will be made available to keep services running, which led to the successful avoidance of these cuts.