MANILA, Philippines – A transport group said Thursday that they will ask for lower fares if the price of diesel continues to drop.
Obet Martin, President of Pangkalahatang Sanggunian Manila Suburbs Drivers Association (Pasang Masda) said in an interview with Radyo Inquirer 990AM said t when the price per liter of diesel drops to P37, the corresponding jeepney fare will be P7.50.
Martin however said that in a meeting with other transport groups, they formally decided not to wait for diesel to come down to P37 before lowering the minimum fare.
“When the price drops to P37.30, we will proceed with the [rollback to] P7.50,” Martin said.
“All of us will go to the office of Chairman Jaime Jacob of the [Land Transportation and Franchising Regulatory Board] and we will ask him to make an order to roll back the jeepney fare to P7.50,” he said.
Oil companies have rolled back the price of petroleum products several times in the past weeks on the basis of falling oil prices in the global market.