The cost of a single subway ride could rise to $2.40 from $1.70 and bus fares could increase to $1.75 from $1.25 under MBTA fare hike scenarios being considered by state transportation officials.

Fares across all modes of transportation would climb 43 percent under the most drastic fare scenario unveiled Tuesday by MBTA officials, who will discuss the proposal, along with another, smaller fare hike scenario at a morning meeting of the Massachusetts Department of Transportation’s Standing Committee on Audit & Finance.

Under the more modest proposal, a 35 percent hike across all transportation modes, subway fares would climb to $2.25 and bus fares would rise to $1.75.

Both plans would include sharp increases in the cost of the RIDE, a service for residents with disabilities ranging from a 50 percent hike to $3 per trip to a 125 percent hike to $4.50 per trip. Residents requesting the RIDE service outside of legally required territory would be charged premium fares of either $5 or $12, under the two scenarios.

The fare increases would also be accompanied by unspecified service eliminations and reductions for commuter rail, bus, light rail, ferry and RIDE service areas, a plan likely to meet resistance from riders who depend on public transportation. T officials acknowledge that some service reduction proposals could leave current customers without MBTA service in their area.

MBTA officials say the fare hikes and service cuts will be needed to close a $185 million budget gap predicted for the fiscal year that begins on July 1.

“It is not our wish to reduce transportation options for any customers but it is our responsibility to present a balanced budget,” MBTA senior director Charles Planck said in prepared remarks that he plans to deliver to an MBTA subcommittee Tuesday morning. “In light of our increasing operating costs we are faced with choices about the service we will provide in the next fiscal year and with public input on the proposals we are presenting, we hope to reach the best outcome for the most people.”

According to Planck, 22 of 24 U.S. cities with urban rail service have raised fares since 2007, the last time the MBTA raised its fares, and many have enacted service reductions over that period.

The fare proposals will be the subject of more than 20 public meetings, T officials disclosed last week, and state Transportation Secretary Richard Davey has noted that final proposals nearly always change after public input. He has warned, however, that fare increases and service cuts are “almost impossible” to avoid, particularly after going five years without an increase, the longest of any major public transit agency in the country.

In recent years, three rounds of fare hikes and the dedication of state sales tax revenues to the authority have failed to stabilize the finances of the MBTA, which is advancing major expansion projects that would run the Green Line further north from Boston and extend commuter rail service to the New Bedford and Fall River areas.