THE Land Transportation Franchising and Regulatory Board (LTFRB) on Tuesday said it is reviewing a petition to increase the minimum jeepney fare by P2 to P15.
“The LTFRB is reviewing the petition thoroughly and will consider all relevant factors, including fuel price trends, inflation rates and the overall economic impact on the riding public,” LTFRB Chairman Teofilo E. Guadiz III said in a statement.
The agency had yet to publish a copy of the fare adjustment plea.
The Alliance of Transport Operators and Drivers Association of the Philippines sought in April last year a P15 minimum fare for jeepneys.
Transport group Manibela Chairman Mario S. Valbuena sought the abolition of the Oil Deregulation law amid rising pump prices.
“The fare increase is not enough,” he said in a Viber message. “The prices of fuel have increased by nearly P3. The continued increase of pump prices will be a huge problem for us drivers and operators. We are calling on the government to abolish the Oil Deregulation law.”
Republic Act No. 8479 or the Downstream Oil Industry Deregulation Act of 1998 removed government control on the pricing, exports and imports of petroleum products, letting the market determine prices.
On Tuesday, local retailers increased the prices of all petroleum products for the third consecutive time this year.
Since the first week of January, pump price adjustments stood at a net increase of P3.45 for gasoline; P5 for diesel and P4.30 for kerosene.
“We understand the challenges faced by our drivers and operators due to rising fuel prices and the increasing cost of living,” the LTFRB said. “While we remain committed to ensuring that their livelihood is sustainable, we must also carefully balance this with the welfare of commuters who are equally affected by the current economic conditions.” — Ashley Erika O. Jose
