LTFRB: P1 jeepney fare hike possible next week

Commuters are advised that a one peso jeepney fare hike could be implemented next week due to the consecutive big-time oil price hikes caused by the ongoing tension between Israel and Iran.

In Joseph Morong’s exclusive report on “24 Oras” on Tuesday, the Land Transportation Franchising Regulatory Board (LTFRB) said it might grant the fare hike petition filed by jeepney drivers and operators.

“One peso across the board, pero that’s all. Wala ‘yung per kilometer na increase. Flat rate muna. Masyado nang mabigat sa mga consumers,” said LTFRB chairman Atty. Teofilo Guadiz III.

(We may grant the P1 fare hike across the board, but that’s all. We cannot grant the kilometer increase. Just the flat rate. It’s a burden too heavy for consumers.)

“We may have a provisional increase, but subject to certain conditions, na ang presyo ng gasolina is as much as 80 dollars per barrel of the Dubai oil,” he added.

The LTFRB could also grant the fare hike petition for provincial buses, but the agency has yet to acquire the computation.

“Posible hong itaas namin but on a graduated rate for first 10 kilometers then subsequently, mayroon kaming ilalagay for na price for a subsequent kilometer,” Teofilo said.

(We may increase the fare but on a graduated rate for the first 10 kilometers, and then subsequently, we will indicate a price for every subsequent kilometer.)

Meanwhile, buses in Metro Manila withdrew their fare hike petition due to stiff competition from railway transport services, modernized jeepneys, and motorcycle ride services.

“The impact maybe is that if they increase the price of the fare, baka ho wala nang sumakay sa kanila (no one will avail their service anymore),” Teofilo said.

Some commuters said the possible fare hike will take more from their limited budget.

Today’s oil price hike is the highest so far in 2025.

The Department of Energy (DOE) said the tension between Israel and Iran has caused concern among oil firms in the world market.

Last week, the cost of gasoline and diesel went up from $6 to $7 per barrel.

“Mayroon na ho talagang kinalaman sa nangyaring gulo since June 13 and even before that. To date, speculative ho ang mga increases na ito,” said Atty. Rino Abad, director of DOE Oil Industry Management Bureau.

(It has something to do with the tension that has been going on since June 13 and even before that. To date, these increases are speculative.)

She added that a further upward trend of oil prices is expected due to the retaliatory attacks between Israel and Iran.

“We hope na mas mababa ang magiging increases kahit may increase at lalong bababa sa mga following weeks na or, otherwise, baka nga mag-correct na ang market at mag-decrease naman,” Abad said.

(We hope that the increases will be lower, even if there is an increase, and will decrease in the following weeks or, otherwise, the market might correct and decrease.)

Closely monitor

Palace Press Officer Undersecretary Atty. Claire Castro said President Ferdinand Marcos Jr ordered concerned government agencies to closely monitor the situation in the Middle East and its effect on the cost of petroleum products.

Meanwhile, DOE officer-in-charge Sharon Garin inspected some oil companies to ensure enough inventory of crude oil to last one month and finished oil to last half a month.

The Energy Department appealed to oil firms that if there is a sudden big-time oil price hike, they should pass it down to consumers in batches.

The Philippine government is also prepared to release a P2.5 billion fuel subsidy for public utility vehicles, taxis, ride-hailing services, and delivery platforms across the country.

“Kung mag-increase ang price at di namin na-anticipate, ‘yun na within 1 week or 2 weeks na talagang lalampas na siya sa 80 dollars per barrel, nagti-trigger po yan na kailangan may fuel subsidy tayo o anumang ayuda,” Garin said.

"Nire-request natin po sila kung pwede kung mag increase nga. hinihingi sana kung may increase nga na solo-solo, baka pwedeng idelay lang, staggered lang. Pero more than that, ang appeal lang sana ng DOE, bigyan niyo naman ng kaunnting discount or kontng advantage ang PUVs natin,” she added.

(If the price increases and we didn't anticipate that within 1 week or 2 weeks, it will actually exceed 80 dollars per barrel, that triggers the need for a fuel subsidy or some kind of aid. We are requesting that if there is an increase, maybe it could just be delayed or staggered. But more than that, the DOE's appeal would be to give our PUVs a little discount or some advantage.) —Mariel Celine Serquiña/RF, GMA Integrated News