Grab asks LTFRB for 5% fare hike
Grab Philippines Head Brian Cu. CATHY MIRANDA/INQUIRER.net
The transport network company Grab has filed a petition at the Land Transportation Franchising and Regulatory Board (LTFRB) for a 5% increase in its average fare.
In a four-page petition filed on Friday, Grab pointed out the impending price hikes on petroleum products following the passage of the Tax Reform for Acceleration and Inclusion (Train).
Under the Train Law, gasoline will be subjected to higher excise tax of P7 per liter.
The ride-hailing company asked the LTFRB for a 5.73% fare hike, or from P10 to P14 per kilometer charge to P11 to P15, in addition to the base rate of P40. It also asked the LTFRB for an increase in its per-minute charge, from P2 to P2.10.
Grab said its current base rate was at P40 and an additional P10 to P14 for every kilometer travelled by the vehicle, according to the petition.
The ride-hailing company said it has not increased its fair despite fuel price hikes since December 2016.
“This increase in fare would ensure that the current technology would continue giving the riding public the capability of selecting the kind of vehicle desired, the time of pick up and the exact location of pick up and drop off,” the petition read.
In addition, “this requested increase would guarantee the riding public the security of real-time GPS tracking, transparent pricing and the comfort of riding in a new, clean, and safe vehicle.” /jpv
RELATED STORY
Grab wants P10 to P13 fare hike amid looming higher fuel excise tax
