MANILA, Philippines - The Land Transportation Franchising and Regulatory Board (LTFRB) on Monday announced a provisional reduction of 50 centavos to the minimum fare of public utility jeepneys (PUJs) from P7.50 to P7 in Central Visayas (Region 7) due to a series of diesel price rollbacks.
The minimum fare reduction only covers the first four kilometers. The rate for succeeding kilometers remained the same.
The Board decided to provisionally reduce the minimum PUJ fare in response to the petition of Augustus Pe Jr.,which was heard last Dec. 17, 2014 at the LTFRB regional office in Cebu City.
Representatives of various transport groups including the Alliance of Transport Organization, Piston-Cebu, Consumers’ Rights for Economic Welfare, Inc., NCTU-Visayas, Maribago-Soong Drivers Association, and Cebu South Mini-Bus Operators Association were also present during the public hearing.
"Sa aming pagdinig sa petisyon ng mga stakeholders, nakapagdesisyon ang Board na magpatupad ng provisional na pagbawas sa minimum fare ng mga pampasaherong jeepney sa Region 7," LTFRB chairman Winston Ginez said.
"Dapat maramdaman din ng ating mananakay sa Kabisayaan ang epekto ng patuloy na pagbaba ng presyo ng krudo," Ginez added.
In his petition, Pe cited that the current fuel price at pump level is comparable to the December 2008 level when the price of diesel was P36.76 and minimum PUJ fare was pegged at P7 for the first five kilometers in Region 7.
Major oil companies on Monday implemented a P1.70 rollback in gasoline and P1.50 per liter in diesel prices.