Provincial buses to raise fares if oil prices go up

A group of provincial bus operators said yesterday they may be forced to apply for a fare increase with the Land Transportation Franchising and Regulatory Board (LTFRB) should there be another round of oil price increases.

Alejandro Yague Jr., president of the Provincial Bus Operators Association of the Philippines, said his group awaits the Sept. 15 meeting of the Oil Producing and Exporting Countries (OPEC).

He said world oil prices will be set during the OPEC meeting, and this will be a major factor in the increase in the price of oil, particularly diesel, in the country.

"Definitely, we’ll file for a fare rate hike" if the meeting results in an oil price hike, Yague told The STAR.

He said that a fare increase is necessary for bus companies to survive, with the continued rise of oil prices in the last few months.

Yague claimed it has been almost two years since they had a fare hike. — Rainier Allan Ronda