LTFRB seen to slash Metro Manila bus fares next week

A petition seeking to slash bus fares in Metro Manila by P1 will likely be approved by the Land Transportation Franchising and Regulatory Board (LTFRB) next week, an official said Thursday.

"There's a good chance that it will be approved. In fact, we laud the transport operators for this gesture as it would benefit the riding public," LTFRB Board Member Ariel Inton told GMA News Online.

Citing low oil prices, the Samahang Transport Operators ng Pilipinas asked the regulator on Tuesday to provisionally reduce the minimum fare for the first four kilometers of air-conditioned bus service from P12 to P11.

Regular buses, meanwhile, have been asked to be decreased from P10 to P9.

The group, however, clarified that the rate for the succeeding kilometers will stay at P2.20 per kilometer for air-conditioned buses and P1.85 per kilometer for regular buses.

Once approved, Inton said the new fare rates will only take affect once the LTFRB order is published in a newspaper of general circulation. 

Falling oil prices also pushed the LTFRB last January to grant the petition of some public transport groups to rollback the minimum jeepney fare in Metro Manila, Central Luzon and Calabarzon from P7.50 to P7. -NB, GMA News