The Land Transportation Franchising and Regulatory Board (LTFRB) clarified Friday that no fare increase has been approved for public utility vehicles (PUVs).

In a statement, the agency stressed that any adjustments to current fare rates are on hold, pending an ongoing study by the National Economic and Development Authority (NEDA).

LTFRB chairperson Teofilo Guadiz III disclosed that that the board’s decision on any proposed fare hike will be guided by NEDA’s findings and recommendations, in line with regulatory protocols.

“We want to be clear — no fare increase has been approved at this stage,” Guadiz said. “The Board is still awaiting the results of NEDA’s economic impact study, which will serve as the basis for any future decision on fare adjustments.”

The clarification comes amid public speculation and proposals from some transport groups seeking fare increases due to operational challenges.

Guadiz reiterated that the LTFRB is committed to a data-driven, balanced approach that considers both the economic realities of operators and the financial welfare of commuters.

“Fare adjustments are a serious matter that require careful study, especially considering the current economic conditions,” Guadiz said. “We are not rushing into a decision. We are waiting for NEDA’s analysis, and the Board will act based on facts and expert recommendation.”

The LTFRB is actively coordinating with relevant agencies and stakeholders and will release official updates once the NEDA study is completed and a recommendation is submitted.

Proposals for a fare hike have been prompted by the continued rise in fuel prices, largely driven by global supply disruptions from the ongoing war in Ukraine and heightened geopolitical tensions in the Middle East.