A “SUSTAINED DROP” in the price of petroleum products has led to a similar trend in public utility jeepney (PUJ) fares—at least, in the Central Visayas region.
On Monday, the Land Transportation Franchising and Regulatory Board (LTFRB) announced a 50-centavo provisional rollback in PUJ minimum fares in Region 7, cutting the fare for the first 4 kilometers from P7 to P6.50. The rate for the succeeding kilometers remains the same.
The region covers the provinces of Cebu, Bohol, Negros Oriental and Siquijor.
With the rollback, the discounted minimum PUJ fare for persons with disability (PWDs), senior citizens and students in the region will be reduced from P5.50 to P5.
In explaining the reduction, LTFRB Chair Winston Ginez cited the “sustained drop in the price of petroleum products” in the world market, and recommendations from the National Economic and Development Authority.
“The spate of reduction has resulted in further lowering the price of diesel fuel within the range of P19.72 to P22.40, which is significantly lower vis-à-vis the levels during the December 2014 and January 2015 periods,” Ginez said.
The new fare cut warrants an adjustment to an earlier PUJ fare rollback order in January 2015, when the LTFRB reduced PUJ minimum fares in Central Visayas from P7.50 to P7.
The agency also clarified that it had yet to release a “final disposition” on a pending petition for a 50-centavo reduction of PUJ minimum fares in Central Visayas, filed by a Cebu resident, identified as Augustus Pe Jr., and last heard in December 2014.