A long distance fare reduced (3)
I believe the answer is:
far
'a long distance' is the definition.
(thesaurus)
'fare reduced' is the wordplay.
'reduced' means to remove the last letter.
'fare' with its final letter taken away is 'FAR'.
(Other definitions for far that I've seen before include "Very much" , "At a great distance way" , "A long, long way to go" , "Distant" , "Remote" .)