LTFRB seeks more data on P1 jeepney fare hike

On Monday, the Land Transportation Franchising and Regulatory Board (LTFRB) chairman Teofilo Guadiz III stated that a balanced approach is needed before deciding on a P1 provisional fare hike petition.

The LTFRB held a hearing where it requested the petitioners to submit a position paper within 10 days, emphasizing the need for more data and an assessment of potential inflation impacts.

Pasang Masda national president Roberto 'Obet' Martin argued that their petition is overdue due to rising diesel prices, with members losing up to P350 per day.

Atty. Veronica Soriano, legal counsel for the petitioners, highlighted the rapid increase in fuel and operational costs as reasons for the provisional fare hike.

Jeepney drivers are struggling financially because of increased oil prices, traffic congestion, and higher spare parts costs, according to Martin.

ALTODAP chairman Melencio 'Boy' Vargas called on oil companies to explain their basis for frequent price adjustments.

The petitioners are open to receiving the government's fuel subsidy if it is distributed now, but they cannot wait until petroleum prices drop to $80 per barrel.