The petition came even after the country’s "Big 3" oil companies announced the reduction of their diesel products by 40 centavos a liter citing the fall in global crude oil prices. Officials of Caltex, Shell and Petron said further cuts may be forthcoming.
But the leaders of the Philippine Confederation of Drivers Organization-Alliance of Concerned Transport Operators (PCDO-ACTO), Federation of Jeepney Operators and Drivers Association of the Philippines (Fejodap) and Federation of Rizal-Cubao Operators-Drivers Alliance (Fercoda) said they would not bite into the announcements made by the "Big 3" oil companies.
"Most likely, the rollback will not be repeated. Knowing these companies, they will increase their prices at the slightest provocation. So we would not withdraw our petition," said Efren de Luna, PCDO-ACTO president.
In their joint petition before the Land Transportation Franchising and Regulatory Board (LTFRB), the groups justified the increase, saying the "price of diesel fuel, lubricants, and other oil derivatives as well as foreign exchange rate which dictates the price of spare parts and other automotive products have drastically increased."
The same transport groups earlier sought with the LTFRB a P1 increase for the present minimum fare of P4.
De Luna explained their new petition is an amendment of their previous petition. "We filed our first petition in June last year and since then, there was a series of increases in fuel and spare parts prices. They are not included in our computation so we decided to amend our petition. We now want an increase of P1.50," he said.
The last increase in the minimum fare was 50 centavos in November 2001, stemming from the petition filed by PCDO-ACTO.