LTFRB sets hearing for fare hike petition

CEBU, Philippines – The Land Transportation Franchising and Regulatory Board has scheduled for public hearing the pending petition for P1.50 fare hike filed by two transport groups in Cebu.

LTFRB regional director Benjamin Go said the public hearing is scheduled on December 9.

Cebu Integrated Transport Services Cooperative and the Alyansa sa Nagkahiusang Drayber-Operator Alang sa Reporma sought to increase the current P6.50 minimum fare to P8 citing the rising cost of fuel and the cost of spare parts for the maintenance of their vehicles.

CITRASCO's petition cited the surges of fuel prices at the average of P4.50 per liter wherein the diesel now costs at the average of P36.31 per liter while the gasoline at P46.65 per liter.

Aside from the fuel price hike, CITRASCO said that there is an accompanying escalation in the costs of other products such as oil, lubricant, tires and spare parts.

Region VII has around 10,000 jeepney units majority of which are in Cebu. It maybe recalled that jeepney's minimum fare in Central Visayas already reached to P8 in July two years ago amidst the rising cost of fuel.

It was however reduced to P7.50 sometime in August 2008 when prices of fuel started to drop.

The succeeding rounds of provisional fare reductions implemented by LTFRB in December 2008 and March last year brought the minimum fare to its current amount. (FREEMAN)