The three-member board of the Land Transportation Franchising and Regulatory Board is set to issue a “para matrix” in order to give LTFRB regional directors the power to increase or decrease jeepney fares without the need of transport groups to file a petition.
A major consideration in deciding to decrease or increase fares is the price of fuel.
LTFRB-7 Regional Director Romulo Bernardes said he will just wait for the board to issue a guideline before he can act on the urgent motion filed by the Cebu Transport and Allied Services Multipurpose Cooperative for LTFRB to rule on the fare hike petition filed two months ago.
He said he will immediately act on the petition once the “para matrix” is issued.
CITRASCO is asking for a P1 increase in jeepney fare, which will raise the minimum fare to P7.50 from the current fare of P6.50.
In a petition filed two months ago, CITRASCO cited as main argument the surges of fuel prices at the average of P4.50 per liter. Diesel now costs at an average of P36.31 per liter while gasoline costs at an average of P46.65 per liter.
Region VII has around 10,000 jeepney units, majority of which are in Cebu.
It maybe recalled that the minimum fare of jeepneys in Central Visayas reached to P8 in July last year amidst the rising cost of fuel but it later went down to P7.50 a month later fuel prices started to drop.
On December 15, 2008, LTRFB implemented a second round of provisional fare reduction of .50 cents for jeepneys, which brought down the minimum fare to P7. It was reduced further to P6.50 three months later. — Mitchelle L. Palaubsanon/JMO (FREEMAN NEWS)