The Land Transportation Franchising and Regulatory Board approved an P11 provisional minimum fare for jeepneys nationwide.
For Metro Manila, Calabarzon, Central Luzon, and Mimaropa, this would mean an additional P1 as the LTFRB earlier this month already approved a provisional P1 hike that brought the minimum fare to P10.
For the other regions, the new order meant a P2 increase in minimum fare to bring it to P11.
The LTFRB likewise provisionally set a higher fare for modern jeepneys with an additional P1, bringing the minimum fare for the first four kilometers to P13.
“The Board is mindful of the present economic state of every Filipino brought about by the continuous rise in oil prices in the world market and the reeling effects of the COVID-19 pandemic,” the agency said.
“With the cautious examination of the complexities of the various concerns of our stakeholders, the Board balances these interests guided by the principle that now more than ever, the need for the riding public to have mass transportation must be sufficiently met,” it added.
Earlier this week, pump prices moved closer to P100 per liter in Metro Manila, with the latest round of oil price hikes Tuesday of P1.65 per liter for diesel, P0.50 per liter for gasoline, and P0.10 per liter for kerosene.
The Department of Energy (DOE) estimated that gasoline would sell from P79.04 to P97.84 per liter, diesel from P85.16 to P96.26 per liter, and kerosene from P89.72 to P99.12 per liter.
World oil prices declined by $3 last week, but this was not reflected in local pump prices as the peso depreciated versus the US dollar and raised the cost of fuel by about P1 a liter, DOE officials said.
