Transport groups to meet amid P3 oil price hike

MANILA, Philippines — The so-called Magnificent 7, composed of the biggest transport groups in the country, will meet to discuss the impact of the impending increase of over P3 per liter in the retail prices of diesel, a transport leader said.

Melencio Vargas, president of the transport group Alliance of Transport Operators and Drivers Associations of the Philippines, said in a radio interview yesterday that the government should provide discount lanes for public utility jeepneys (PUJs) in the gasoline stations.

“The new oil price hike will be a big burden for us. We in the Magnificent 7 will meet to discuss what we will do as we acknowledge that we have just emerged from calamities,” Vargas said.

The price of diesel is forecast to increase between P3.20 and P3.50 per liter while kerosene may go up between P2.90 and P3.20 per liter.

“The government should restore the PUJ lanes in the gasoline stations,” Vargas said.

He did not categorically say if transport groups would demand for another fare hike, saying it will be discussed during the meeting. The current minimum fare for traditional and modern jeepneys is pegged at P12 and P14, respectively.

The fare hike was last implemented on Oct. 3, 2022 after the approval of the Land Transportation Franchising and Regulatory Board.