(AP) - The head of New Jersey Transit says commuters should learn by month's end whether the agency will increase its fares.

Executive Director Veronique Hakim told NJ.com on Wednesday that officials are still looking at "everything" to wring costs savings out of a budget which has a $60 million gap. She reiterated that fare increases and service cuts would be a last resort.

Hakim said that if the agency decides to pursue either of those options, they will hold public hearings on the matter.

Commuter advocates told NJ Transit board members Wednesday that fare hikes would hurt people recovering from the recession and Superstorm Sandy.

Hakim has previously said her goal was to limit any fare increase to a single digit percent hike.