The Land Transportation Franchising and Regulatory Board (LTFRB) has approved a provisional 50-centavo increase in jeepney fares to help drivers and operators cope with rising oil prices.
From the current PhP8, the minimum fare for jeepney would now be adjusted to PhP8.50. The new fare would take effect Wednesday (March 21). Being provisional, the increase would automatically be taken back once prices go back to the previous level.
“While the Board recognizes the plight of the Filipino people in this time of crisis, it cannot be insensitive to the present clamor of stakeholders in public land transportation services for necessary action for fare rates,” the LTFRB said.
“Thus, the Board has judiciously balanced the rights of the riding public who are mostly dependent on the public transport system vis-à-vis the right of grantees of Certificates of Public Convenience to a reasonable return of investment,” it added.
The adjustment in fares will cover all areas of the country, except for the Regions 1, 11, 12 and 13 and the Autonomous Region of Muslim Mindanao.
Earlier, party list 1-United Transport Koalisyon (1-Utak) and transport groups Alliance of Transport Operators and Drivers Association of the Philippines (Altodap) and Federation of Jeepney Operators and Drivers Association of the Philippines (Fejodap) filed a joint petition for an increase in fares by PhP2.