A Norfolk bus operator is in talks with the government about a potential flat fare cap of £2, which could temporarily come into force across England later this year.
The plan, designed as a response to the cost of living crisis, has reportedly been worked on by Downing Street since April.
But it is not known whether the country's new prime minister, who will take over from Boris Johnson, will take it forwards.
The cap would reportedly be introduced for six months from October and apply to local and regional journeys of up to 80 miles.
That would mean, for example, the current £12 journey from Norwich to Peterborough would be reduced to £2.
Chris Speed, head of operations at First Eastern Counties - which operates many of Norfolk's buses - said: “There are discussions taking place in England about the possible introduction of a flat £2 fare later this year but nothing has been confirmed as yet.
"We, and the industry, are in discussion with the Department for Transport (DfT) about how it could be implemented, if it goes ahead.”
A DfT spokesman meanwhile said he would not comment on "speculation".
But he added: "We’ve already committed to investing £3bn into bus services by 2025, to improve fares, services and infrastructure, and given nearly £2bn since March 2020 to bus operators and local authorities to mitigate the impacts of the pandemic."
The price cap is not expected to apply to long-distance coach services, and will also not apply in Scotland or Wales.
Bus price caps of £2 to start in the autumn have already been announced by the Labour mayors of West Yorkshire, Greater Manchester and Liverpool city region.
They are due to last three years and are aimed at helping urban commuters.
But the latest reports suggest the government could make a national intervention to ensure rural and suburban services are also kept affordable for a six-month period.
The difference in price between bus fares inside and outside London has been cited as one of the examples of how the rest of country needs to "level up", to close the economic gap with the capital.
In London, buses cost £1.65 for an hour of travel, but in the rest of country, including Norfolk, fares can often be three or four times as expensive as that.
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