Due to anticipated increases in petroleum prices amid Middle East tensions, the Philippine Land Transportation Franchising and Regulatory Board (LTFRB) is considering provisional fare increases for public transportation once diesel hits ₱60 per liter.
The Land Transportation Franchising and Regulatory Board (LTFRB) in the Philippines announced it is open to implementing provisional fare hikes in public transportation if diesel prices reach ₱60 per liter. This measure comes amid expected price surges in petroleum products resulting from ongoing conflicts in the Middle East. LTFRB Chairperson Vigor Mendoza II stated that they may decide on petitions requesting fare adjustments for public utility buses and jeepneys if fuel costs rise significantly.
The Department of Energy earlier indicated that petroleum prices could increase by ₱7 to ₱10 per liter if crude prices continue to escalate globally due to Middle East instability. Transport groups have petitioned for a ₱2 increase in the minimum fare for buses and jeepneys; meanwhile, transport network vehicle services (TNVS) are seeking a ₱20 hike in their flag-down rates.
Provincial bus operators request an additional ₱0.50 per kilometer, while point-to-point (P2P) bus services aim for a 30% to 40% fare increase. In preparation, the Department of Transportation (DOTr) is considering fuel subsidies for public utility vehicle (PUV) drivers and operators if crude oil hits $80 per barrel. Transportation Secretary Jaime Bautista explained that this initiative aligns with President Ferdinand “Bongbong” Marcos Jr.’s directive to help drivers and operators affected by fuel price hikes.
The government has allocated ₱2.5 billion to fund these subsidies, aiming to mitigate fare increases for commuters due to rising petroleum costs.
Sources referenced:
- https://www.gmanetwork.com/news/balitambayan/balita/978637/ltfrb-bukas-sa-posibilidad-na-itaas-ang-singil-sa-pamasahe-kapag-umabot-sa-p60-per-liter-ang-dies/story/
