LTFRB calls provisional fare increase ‘last resort’
THE Land Transportation Franchising and Regulatory Board (LTFRB) is studying a possible provisional fare increase for public utility vehicles as a last resort, following the surge in fuel prices.
“If the fuel subsidy can’t support the hikes, then we are looking at service contracting; if that is not enough, we will be looking at provisional fare increases, which would be our last resort,” LTFRB Chairman Vigor D. Mendoza said in a radio interview on Monday.
Mr. Mendoza said the LTFRB is revising its recommendation for a provisional fare increase, noting that the earlier proposal of a P0.50 hike for public utility jeepneys and buses was set when fuel prices were at P60 per liter.
“We have a recommendation as far as provisional fare increase is concerned but we will have to re-do our numbers because of the jump in fuel prices. When we have our recommendation, we’ll have different figures,” he said.
On Monday, the Department of Energy said fuel retailers are set to hike prices of gasoline by P7- P13 per liter, diesel by P17.50-P23 per liter, and kerosene by P32-P36 per liter.
Mr. Mendoza declined to specify when the provisional fare increases might be authorized, noting that the LTFRB is watching for the impact of the fuel subsidy and whether it is sufficient to shield drivers and operators from rising fuel costs.
The Department of Transportation said last week that it is preparing to disburse P2.5 billion in fuel subsidies. — Ashley Erika O. Jose
You May Also Like
American Bitcoin’s $5B Nasdaq Debut Puts Trump-Backed Miner in Crypto Spotlight
Virginia Republicans rage against ex-GOP governor: 'Missing in action' while eyeing 2028
