New taxi rates will take effect today after the LTFRB board ordered all flagdown rates nationwide to be slashed by P10 even as it kept the distance rates as they were. It is about time taxi rates went down as it has been quite a while since fuel prices have dropped. And while they have risen a bit again, they have not gone back to where they were when they prompted the last fare increases. Besides, bus and jeepney fares have long gone down as well, with ships following suit.
The good thing about this particular reduction in taxi flagdown rates is that there is no need for the taxi meters to be recalibrated, thereby eliminating the need for more expenses and down time for operators and drivers. Thus, while the original P40 will still be reflected at flagdown, passengers can just deduct P10 from the final fare without any hassle as it is a readily deductible round figure.
Maybe this particular development should serve as a blueprint for future price movements in both fuel and their corresponding effects on fares. Maybe the LTFRB can develop a formula from this experience, such that when oil prices keep increasing or decreasing to a certain level, corresponding fare adjustments can automatically be ordered in P10 increments up or down.
If a formula can be devised from this experience, maybe an entire process of filing for rate adjustments, up or down, can be eliminated, as well as the corresponding public hearings and final deliberations before a final order is issued. This will eliminate a lot of wasted time. On the contrary, quick and definite action can be enjoyed to everyone's benefit.
Let's face it. Price adjustments, up or down, in fuel and fare rates have become part of daily life. One way or the other, we will have to contend with them just as we contend with the many other aspects in this business of living. But if there is a way that dealing with these aspects can be made simpler and easier, then by all means let us simplify and make things easy.
For example, it should not be difficult for the LTFRB to put in place a mechanism that would allow a fare increase of a particular amount each time fuel prices hit a certain level of increase, or for that matter a fare reduction of a particular amount each time fuel prices hit a certain level of decrease. Also, any price swings in fuel within those two parameters of highs and lows may be deemed insufficient to affect fare rates either way.
It is part of the business of government to make things easier and simpler for its constituents. So if government, in this case the LTFRB, can devise a way to deal with the problem of fuel prices and fare rates such that adjustments will not take forever but instead become readily implementable, then it should do it. This is one way of government giving back to taxpayers what they have given government.