The Land Transportation Franchising and Regulatory Board is considering the implementation of a flexible fare matrix that mandates fare increases commensurate to adjustments in the price of fuel.
According to Lei Alviz's report on "24 Oras" jeepney drivers and operators had to make do with old fares even after several rounds of fuel price hikes ate into their profit margins.
As deciding on fare hike petitions take time, LTFRB chairman Martin Delgra said the board understood the transport sector's predicament.
He said the LTFRB was looking at data that could be used to form a flexible fare matrix.
"Yung formula is very basic in a sense that tinitingnan lang yung financial viability ng mga PUJ operators," LTFRB chairman Martin Delgra said.
"May mga kulang pa na mga datos as regards especially on the part of the operator yung operating cost at saka yung expected income," he added.
Obet Martin, the head of the transport group Pasang Masda, suggested that the rates be based on the history of oil price hikes and fare increases.
"Hindi pare-pareho ang kita ng bawat ruta. They have the records of fare history to simplify matters. Palagay ko dun na lang nila i-base," Martin said.
Pasang Masda proposed that the minimum fare be P9 when the price of diesel is P40 to P42 per liter, P10 when it's at P43, and P11 when it's at P45 to P46. —NB, GMA News