THE Land Transportation Franchising and Regularity Board (LTFRB) is studying the request of some transport groups asking for a P2 fare increase for jeepneys for the first four kilometers.
LTFRB chairperson Teofilo Guadiz III said he recognizes the rights of the operators and drivers to seek a fare increase amid the rising prices of pump products.
Guadiz said the request will be studied to determine whether the fare hike has merit.
“There are many factors to consider when reviewing fare hike petitions or requests. These factors should be carefully studied, reviewed, and validated by the Board before we can allow any fare hikes. We understand the urgency of the situation and that is why the Board will convene to determine if the fare hike request has merit,” he said.
On Friday, the Liga ng Transportasyon at Operators sa Pilipinas (LTOP), Stop and Go Transport Coalition Incorporated (Stop & Go), and the Federation of Jeepney Operators and Drivers Association of the Philippines (FEJODAP) formally petitioned the LTFRB for the price hike in PUJs.
The Pagkakaisa ng mga Samahan ng Tsuper at Operators Nationwide (PISTON), another group that signed the petition, clarified it does not seek a fare hike and is instead looking to have the government control gas prices by suspending the excise tax and value-added tax on petroleum products, as well as scrapping the Oil Deregulation Law.
Oil firms have continued increasing fuel prices due to reflect the movement of prices in the global market.
Another big-time oil price increase would take effect on Tuesday, as firms would hike gasoline prices by P1.90 per liter and diesel by P1.50 per liter, which is the fifth consecutive week of price increases.
Data from the Department of Energy (DOE) as of Aug. 8 showed that gasoline prices in Metro Manila ranged from P57.09 to P79.71 per
liter, diesel prices from P57.60 to P80.60 per liter, while kerosene prices range from P73.45 to P86.10 per liter.