A new report has suggested the 85-year-old Story Bridge is in such a bad state that the Brisbane City may need to implement tolls to raise revenue to fix it.

The situation is so dire that if we do not act now there may be no Story Bridge when the 2032 Olympics arrive.

When asked about the possibility of a usage toll, Brisbane Lord Mayor Adrian Schrinner told Peter Fegan on 4BC Breakfast, "It is a 100% no from Council, because we don't even have the power to introduce a toll, we don't have the legislative authority to introduce a toll."

"That decision would have to be made at the state government level, so from me, it's a no."

"But ultimately, if the other levels of government don't step up, that may be the only option left on the table," The Lord Mayor continued.