A fare increase for public transport may be announced this week as the Land Transportation Franchising and Regulatory Board (LTFRB) reviews petitions from transport groups citing soaring fuel prices.

LTFRB chairman Vigor Mendoza said the agency must balance the need for fare adjustments with the ability of commuters to pay.

“The most difficult part of our job is balancing the ability of commuters to pay fares,” Mendoza said.

The LTFRB will also begin distributing a P5,000 fuel subsidy to drivers to help cushion the impact of rising oil prices.

About 261,000 drivers are expected to receive the subsidy, including jeepney drivers, delivery riders, transport network vehicle service drivers and motorcycle taxi drivers. Tricycle drivers are also set to be included.

Meanwhile, the Philippine National Police said it has intensified monitoring of gasoline stations that have suddenly halted operations amid the oil price surge.