MANILA, Philippines - A transport group said yesterday the continuing drop in the prices of petroleum products could merit another P.50 jeepney fare rollback, but the Land Transportation Franchising and Regulatory Board (LTFRB) maintained that no fare adjustment will be implemented before the end of the year.
In a phone interview, Pasang Masda president Obet Martin said recent rollbacks on diesel prices – which is currently at around P29 to P30 per liter – could justify further reduction of minimum jeepney fares to P7.
But instead of filing a petition of a fare rollback, Martin said they are pushing for the approval of their proposal to institutionalize a fare adjustment mechanism to protect drivers in case of surges in the price of petroleum products.
Under the proposal, jeepney fares will automatically adjust based on prices of petroleum products without the need for an approval of the LTFRB.
Martin said he would meet with LTFRB Chairman Winston Ginez to discuss the status of their petition, which they filed last month.
He also called on the government to order the rollback fares of other modes of public transportation, including taxis, buses, UV Express vans, ships and airplanes.
Despite Martin’s statement, the LTFRB said it is impossible for another fare adjustment to be implemented by the end of the year.
In a text message, Ginez said a hearing on the petition for fare reduction for buses, taxis and UV Express vans is set on Jan. 9, 2015.
Board member Ariel Inton added that Martin’s proposal is still pending before the board.
Earlier this month, the LTFRB granted a petition to reduce by P1 the minimum fare in jeepneys.