MANILA, Philippines — The Land Transportation Franchising and Regulatory Board (LTFRB) is still reviewing a petition for a P60 flag-down rate for taxis.
LTFRB Chairman Teofilo Guadiz III said the agency has to consider several factors as the higher flag-down rate could have an impact on inflation.
Since June 2022, taxi operators have been lobbying for a fare hike, from P40 at the time to P60.
In September that year, the LTFRB granted a P5 increase and another P5 in March 2024, setting the current flag-down rate at P50.
For taxi operators, this is not enough. They want the rate to be increased to their original P60 petition.
Guadiz said they are still waiting for a report from the National Economic and Development Authority on its possible impact on the economy.
“If it triggers inflation, then we may not grant the request, because the impact of inflation is nationwide. It will trigger an increase in prices. But if the effect is just minimal, we may grant the increase,” Guadiz added.
He assured taxi operators that the LTFRB is carefully looking into the matter.