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Philippines: LTFRB greenlights bus fare hike
MANILA, Philippines — Philippine transport regulators have approved an across-the-board increase in bus fares, adding to budget woes of Filipinos who are in retreat as rising prices squeeze households.
The Land Transportation Franchising and Regulatory Board, or LTFRB, granted Thursday morning a provisional P1 hike in bus fares for the first five kilometres. Bus commuters will be charged another 15 centavos for every succeeding kilometer.
The new round of hike brings the minimum fare to P11 from P10 for buses operating in Metro Manila and to P13 from P12 for provincial buses, LTFRB chairman Martin Delgra told DZMM radio.
The adjusted bus fares will take effect 15 days after the publication of decision.
The LTFRB’s new order came as Filipino commuters brace for a P10 jeepney fare. Jeepney operators and transport groups sought the fare increase due to higher fuel prices, Delgra said.
Inflation hit a new nine-year high of 6.7 percent in September, amid food supply problems, a weak currency, and surge in price of oil in the international market, which translated to higher local pump prices.
Year-to-date, gasoline price jumped P10.55/liter, while prices of diesel and kerosene increased P11.50/liter and P10.50/liter, respectively. — Ian Nicolas Cigaral
Source: https://www.philstar.com/business/2018/10/18/1861137/ltfrb-greenlights-bus-fare-hike#V6D8VdWDijCOMlXs.99