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Jeepney fare hike 'most likely' before yearend: LTFRB

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Jacque Manabat, ABS-CBN News

<figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2803224" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div><p>MANILA<strong> (UPDATE)- </strong>Increases in the prices of diesel have entered their 10th week, with the Land Transportation Franchising and Regulatory Board calling the hikes &quot;unusual.&quot; </p><p>This is why LTFRB Chairman Teofilo Guadiz III said Wednesday it is most likely that the board will grant a jeepney fare hike appeal before the year ends. The current minimum fare is P12.</p><p>“We know the necessity of fare increase. However, yan ay binabalanse rin ho namin sa pangangailangan ng buong bansa. Pero pag tinaasan namin ang presyo ng pamasahe, malaki ang epekto nito sa ekonomiya at magtataasan lahat ng presyo. We will consider the fare hike. However, give us a little time to determine how much and when will be the appropriate time to impose the fare hike,&quot; Guadiz said.</p><p>The regulatory board members will convene for the hearing of the fare hike appeals on Sept. 26. One group has asked for a provisional P1 fare hike, while another is appealing for P2 more on the base fare.</p><p>The LTFRB said they have yet to determine the appropriate rate increase for jeepneys and the timing for the implementation. Guadiz also said that they must balance the possible impact of fare hikes on the operators, drivers, and passengers.</p><p>The agency also clarified that the P3 billion fuel subsidy distribution would not contribute to their decision-making process on the fare hike appeals.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/09/09/23/oil-prices-to-increase-for-10th-week-in-a-row">Oil prices to increase for 10th week in a row</a></li></ul><div><strong>FUEL SUBSIDY</strong></div><p>LTFRB has already downloaded the P3 billion fuel subsidy for public utility vehicles. </p><p>However, they said that it may take some time for other PUV operators to receive the amount because of the volume of the beneficiaries, numbering more than 1.36 million beneficiaries nationwide, excluding the trucks-for-hire units.</p><p>“Kung &#x27;di pa natatanggap, &#x27;yung iba siguro kasi is processing pa. 1.36 million po na beneficiaries, [so] you should understand na &#x27;di kaya ng Land Bank na sabay sabay ang processing niyan. What we can assure that the money is there,” Guadiz said.</p><p>Modern jeepney operators will receive P10,000, while P6,500 will be distributed to operators of traditional jeeps, buses, UV Express, TNVS, school, and tourist transport services. </p><p>Meanwhile, P1,200 will be given to delivery riders and P1,000 for tricycle drivers. LTFRB Technical Division chief Joel Bolano also confirmed subsidies will be given to delivery riders and tricycle drivers.</p><p>The LTFRB explained that the varying amount of fuel subsidies is due to the consumption of gasoline and diesel varies among these public vehicles.</p><p>The LTFRB added that if the high global oil prices continue for another three months, they will request additional funds for fuel subsidies for the following year.</p><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/K1IcgPcRpS0?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

LTFRB Chairman Teofilo Guadiz III said it is most likely that the board will grant a jeepney fare hike appeal before the year ends. 

Jeepney fare hike 'most likely' before yearend: LTFRB

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Jeepney fare hike 'most likely' before yearend: LTFRB

Jacque Manabat,

ABS-CBN News

Published Sep 13, 2023 05:17 PM PHT

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Updated Sep 14, 2023 01:55 AM PHT

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diesel prices

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LTFRB

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