Party leader Jeremy Corbyn planned to discuss local transport on a visit to Derbyshire on Thursday.
Corbyn said: “The Tories said privatisation would improve our buses but private bus companies are running bus services into the ground, while raking in billions of pounds in profit.
“Passengers now face a toxic mix of rising fares, cuts to services and reduced access.”
The party’s analysis of government figures also showed how bus fares could increase by 53% by 2022, if previous rises continue.
It found bus fares have increased at twice the rate of average wages.
And at the same time, bus passenger numbers look set to be 10% lower than in 2010, with elderly and disabled passengers driving the decrease.
“For too long the bus industry has put profit for a few before millions of passengers. A future Labour government will change that,” Corbyn added.
A spokesperson for the Department for Transport said: “It is for councils to decide which bus operations to support in their areas, but we help to subsidise costs through around £250m worth of investment every year.
“£42m of this is already devolved to local authorities and a further £1bn funds the free bus pass scheme, benefiting older and disabled people across the country.”