Minimum jeepney fares back to P8 effective Tuesday
MANILA, Philippines—Minimum jeepney fares will be cut by 50 centavos on Tuesday following the biggest rollback in fuel prices by oil companies since the start of the year.
The Land Transportation Franchising and Regulatory Board (LTFRB) on Monday signed an order recalling the 50-centavo adjustment in minimum jeepney fares that was granted in March. Minimum jeepney fares in Luzon will be brought back to P8 per passenger, while the fares in Visayas and Mindanao will be cut to P7.50 per passenger.
In the same order, the regulator denied the consolidated petition by several transport groups for a permanent P2 increase in jeepney fares to P10, saying that a substantial hike would be too much of a burden to passengers.
“The big-time rollback in prices of diesel was implemented by some oil companies, which now brings the prices of diesel below P45 per liter, and is likely to continue in the weeks to come,” the LTFRB said in its decision.
The drop of diesel prices below P45 per liter was the main trigger for the 50-centavo recall, and for the denial of the P2-increase in fares.
“Transport petitioners… manifested and announced in public that they will withdraw the petition for increase of fares in the event that prices of diesel shall be reduced to the P45-level,” the LTFRB said.
The petitioners that filed for the increase were the Federation of Jeepney Operators and Drivers Association of the Philippines (Fejodap), the Alliance of Transport Operators and Drivers Association of the Philippines (Altodap), Liga ng mga Tsuper sa Pilipinas Inc. (LTOP), the Alliance of Concerned Transport Organization (ACTO) and the Pangkalahatang Sangguniang Metro Manila and Suburb Association (Pasang Masda).
LTFRB board member Manuel Iway said fares might be hiked back to P8.50 per passenger if the price of diesel were to go up again and reach P48 per liter.
At the start of the week, oil companies rolled back diesel and gasoline prices by P1.50 per liter and P1.65 per liter, respectively.
National Council for Commuters Protection president Elvira Medina welcomed the fare reduction, saying that this would help the millions of Filipino students who go back to school this June.
She also praised the LTFRB for acting fast with the recall of the fare hike following the drop in fuel prices.
“It was a welcome change that the LTFRB acted motu proprio, or ‘on their own,’” Medina said in an interview.
“We did not have to file a petition for a fare reduction, which takes a lot of money on our part, especially since we are just volunteers. Everything we spend comes out of our own pockets,” she said.
Originally posted at 03:30 pm | Monday, May 14, 2012
