Jeep fare cut by P0.50 in Cagayan Valley, Bicol

MINIMUM jeepney fare in Cagayan Valley and Bicol regions will be reduced by 50 centavos to P7 due to falling oil prices, the Land Transportation Franchising and Regulatory Board (LTFRB) said on Wednesday.

“In line with the board’s order to conduct public hearing in the region to get the sentiment of various transport and consumer groups, we have come to a resolution to grant a provisional fare adjustment in Cagayan Valley region,” LTFRB Chair Winston Ginez said in a statement.

From P7.50, the fare for the first four kilometers will now be P7, while the rate for the succeeding kilometers will remain the same. Persons with disability, senior citizens and students are still entitled to a 20-percent fare discount.

In announcing its decision, the LTFRB noted the drop in the price of diesel by nine consecutive times in Cagayan Valley (Region 2), which is composed of Batanes, Cagayan, Isabela, Nueva Vizcaya and Quirino provinces.

Some transport groups had opposed the fare reduction, citing the still high cost of spare parts, maintenance and labor. The LTFRB said these operating expenses were not on a daily basis.

Public hearings for a provisional fare rollback in Bicol (Region 5) were held in Naga City in Camarines Sur province and Daraga town in Albay province. The region is composed of Albay, Camarines Norte, Camarines Sur, Catanduanes, Masbate and Sorsogon provinces.

“It’s only fair for the riding public in Bicol to also benefit from the continuous drop in oil prices,” Ginez said.

The LTFRB initially implemented the P7 provisional fare in Metro Manila, Central Luzon and Calabarzon upon the voluntary petition for rollback filed by four transport groups in January. A fare cut in Central Visayas was also announced on Friday.