LTFRB to resolve jeepney fare hike petitions by September

The Land Transportation Franchising and Regulatory Board (LTFRB) is set to resolve the fare hike petitions filed by jeepney operators amid the soaring prices of petroleum products in the country.

LTFRB chairperson Atty. Cheloy Garafil said they may release their decision as to how much the increase would be by September.

“Dito sa fare hike petitions ng mga jeepneys, actually nandiyan na ang [National Economic and Development Authority] position (Regarding the fare hike petitions of jeepneys, actually, the position of NEDA is already there). They've already submitted their position on it and we’re looking at their position paper na lang, at least we are waiting for their memorandum on September 3 and then we will act accordingly,” Garafil said.

“So, we can expect, siguro ang rate hike resolution nila will happen at the earliest will be the first week of September or the latest by the second of week of September,” she added.

Earlier in the day, oil firms announced that pump prices of diesel and kerosene will increase by P6.10 per liter while gasoline will go up by 1.40 per liter.

The changes will take effect at 6 a.m. on Tuesday. Other companies are expected to follow suit.

This is the second straight week that oil firms will implement a major increase, after firms hiked prices per liter of gasoline by P0.70, diesel by P2.60, and kerosene by P2.80 last week.

Latest data available from the Department of Energy (DOE) indicate that year-to-date adjustments stood at a net increase of P18.15 per liter for gasoline, P31.70 per liter for diesel, and P27.10 per liter for kerosene as of August 23, 2022.

On Sunday, the Federation of Jeepney Operators and Drivers Association of the Philippines (FEJODAP) is set to petition for a P2.00 increase in fares as drivers are now bearing the brunt of the increase of local pump prices.

The LTFRB in June granted an increase in the minimum fare for traditional jeepneys to P11.00 across all regions in the country.—Mel Matthew Doctor/AOL, GMA News