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DOTr, LTFRB hold off jeepney fare increase
The Department of Transportation (DOTr) has decided against implementing a fare increase for both traditional and modern jeepneys at this time, citing the nation's ongoing recovery from recent calamities.
This decision comes after the Land Transportation Franchising and Regulatory Board (LTFRB) recommended a P1 to P2 fare hike, a proposal that has now been set aside.
The DOTr highlighted the recent significant rollback in diesel prices, which reduced the cost by P2.90 per liter, as a factor against a fare increase.
Secretary Giovanni Lopez emphasized that a fare hike would negatively impact the economy, particularly in provinces still recovering from natural disasters like earthquakes and typhoons.
Furthermore, a study by the Department of Economy, Planning and Development suggests that a fare increase could exacerbate inflation over the next two years.
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