Oil companies are expected to raise diesel prices by P10 per liter and gasoline prices by P5 per liter on 22 September.
JEEPNEYS ply Recto Avenue in Manila as the Land Transportation Franchising and Regulatory Board finalizes its recommendation for a public transport fare increase following persistent volatility in global fuel prices.
Photograph by Toto Lozano for DAILY TRIBUNE
The Land Transportation Franchising and Regulatory Board (LTFRB) is finalizing its recommendation for a public transport fare increase following persistent volatility in global fuel prices, acting chairperson Greg Pua Jr. said Sunday.
Pua said the regulatory board was ordered to submit its proposal to Department of Transportation (DoTr) Secretary Giovanni Lopez for approval next month.
The board expects Lopez to make an immediate decision on the recommendation, with the agency prepared to implement any approved fare adjustment right away, Pua said during a radio interview.
The planned recommendation comes as rising fuel costs continue to threaten the livelihoods of public transport drivers who are still recovering from market shocks experienced earlier this year.
Oil companies are expected to raise diesel prices by P10 per liter and gasoline prices by P5 per liter on 22 September, driven by renewed geopolitical tensions in the Middle East.
Pua said the agency is coordinating with other government institutions to ensure the proposed adjustment offers a balanced resolution for both drivers and commuters.
The board is also factoring in the planned minimum wage adjustment scheduled for discussion this week to help lessen the financial impact on passengers.
The government previously halted fare adjustments on 19 March, when President Ferdinand Marcos Jr. indefinitely suspended a planned P1 to P2 increase for traditional and modern jeepneys nationwide.
Marcos said at the time that the burden of fuel price spikes should not fall on the riding public, stressing the need to protect workers, students, and daily commuters while Middle East conflicts continue to destabilize global markets.
That suspension drew criticism from several transport organizations, which argued that government fuel subsidies, while helpful temporarily, are insufficient to sustain transport operators over extended periods.
