Bautista had also earlier announced that current basic fares on public utility vehicles would maintain for the rest of the year.
This as the Department of Energy expressed optimism that pump prices of petroleum products might continue to drop due to decrease in prices in the world market and the strong peso against the dollar.
However, the possibility of rolling back the current fares from their original rates did not get support from the transport sector.
Transport groups in the national level have first expressed their opposition to the proposal, saying Bautista should not consider the prices of diesel in determining the fares of PUVs.
They said that the implementation of the Reformed Value Added Tax, rising cost of spare parts, traffic problem, and even corrupt traffic enforcers are factors that have to be considered in raising or lowering the fares.
Antonio Pogado, chairman of the Nagkahiusang Drayber sa Sugbu said that the LTFRB should make clear the basis of the rollback as there are many factors that affect fare rates.
He however admitted that the recent rollback in the prices of petroleum products have benefited the drivers and that his group has decided to set aside their petition for fare hike for a while.
NADSU has been planning to seek P1.50 increase on top of the existing P6-minimum fare for public utility jeepneys.
But Pogado said that unlike in Manila, where minimum fare is pegged at P7.50, fare in Cebu is already low and there is no need for a rollback.
If LTFRB would push through with the rollback in fares, he said there should be a public hearing so that drivers and members of the transport sector would be able to air their concerns.
Meanwhile, the Consumers and Oil Price Watch had announced that motorists can expect 50-centavo-a-liter fuel price reductions almost every week up to the end of the year as world oil prices continue to soften.
COPW chairman Raul Concepcion said that gasoline, diesel and kerosene prices would continue to go down in the weeks leading up to 2007.
For several weeks, oil firms have slashed prices of gasoline, diesel and kerosene by at least 50 centavos a liter.
According to data from the DOE, the regional benchmark Dubai crude plunged to an October average of $56.85 a barrel from $59.82 a barrel last month.
Last week's rollback brought premium unleaded gasoline prices to between P38.24 and P40.50 a liter; diesel to between P32.77 and P38 a liter; and kerosene to between P36.19 and P41 a liter, inclusive of the 12-percent value added tax. - Wenna A. Berondo