An increase in public utility vehicle (PUV) fares amid the ongoing modernization program has no basis, Land Transportation Franchising and Regulatory Board (LTFRB) Chairperson Teofilo Guadiz III said over the weekend.

Guadiz stressed that the current jeepney fares will remain.

He pointed out that fare increases should undergo a thorough study and consultations before implementation, including the proper process of the LTFRB board.

Several factors such as inflation and the cost of fuel must be considered before the agency approves a new fare increase.

The current minimum fare for traditional jeepneys is still at P13 and P15 for modern jeepneys, Guadiz said.

He reiterated that once a transport group files a petition for a fare increase, the LTFRB board shall conduct an assessment and study to determine its feasibility.