The government has announced bus journeys will be capped at £2 from January to March next year.
Single bus journeys in Norfolk and further afield will be capped at this price for three months amid growing concerns about the cost of living this winter.
According to the Department for Transport, the £60m plan could see some passengers save more than £3 per single bus ticket.
Transport secretary Grant Shapps said the decision will provide "direct help to thousands of households across the country".
“This £60m boost will mean everyone can affordably get to work, education, the shops and doctors’ appointments" he added.
“We know people will be feeling the pressure of rising costs this winter, and so we have been working hard this summer to provide practical concrete help that will lower daily expenditure.”
The new fare cap will see the government working with operators and local authorities to introduce the scheme, with the Department of Transport claiming that bus operators representing 90pc of the market have expressed support for the scheme.
Single fares that are already lower than £2 will not be affected by the cap.
Severe cuts to bus services in England were avoided last month due to new government funding, after it was announced £130m will be made available to keep services running.
While the price cap will be good news for many, bus operators in Norfolk are already struggling with demand due to driver shortages.
Passengers using First Bus, Norfolk's biggest operator, spoke of their frustrations last month about the state of the bus network and missed connections.
They say that cancelled buses and severe delays are regular occurrences and often mean some struggle to get to work on time.
Steve Wickes, managing director at First Eastern Counties, said: “We are currently affected by driver shortages at present which has unfortunately resulted in some journeys not operating on certain days.
"However we are recruiting and we have a full driving academy at present which should improve the situation over the coming weeks."
Labour labelled the price cap plan inadequate and accused it of being a “half measure”.
Shadow transport secretary Louise Haigh said: “This weekend Labour mayors will be lowering bus fares for millions of people for the long term.
“The government’s temporary 90-day reprieve after years of soaring fares fails to match the scale of the crisis.
“Passengers across the country facing a cost-of-living emergency need more than half measures.”
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