The Land Transportation Franchising and Regulatory Board (LTFRB) approved the hike from the minimum jeepney fare P7 to P8. The increase will be implemented starting Wednesday. The P1.25 rate for every succeeding kilometer will remain.
A provisional increase of P1 is also approved for provincial fares.
The jeepney fare hike is an answer to the rising prices of basic commodities and maintenance costs.
Since the jeepney fare hike is provisional, it may be revoked once the oil prices drop.
In July 2008, the provisional increase approved by LTFRB was P8.50. Due to the rollback of fuel prices, the rate became P7 in February 2009.
The economic team of the Cabinet nodded for the proposed fare increase in Metro Rail Transit (MRT) and Light Rail Transit (LRT) but still mum about the adjusted rate.
According to Presidential Development and Strategic Planning Secretary Ricky Carandang, the approval was “in principle”. Instead of revealing the new fare in MRT and LRT, he just mentioned that it will be “slight”, “won’t be much”, and “reasonable”.
The announcement of the adjusted fare in MRT and LRT is expected to come from Department of Transportation and Communications Secretary Jose Ping de Jesus.
Public consultation will be held before pushing any implementation forward.
As of now, the highest train fare is P15–significantly lower than the actual cost of about P48.
[via Sun Star]