MANILA, Philippines – Following the P1 ($0.022*)-provisional fare rollback in public jeepney fares in Metro Manila, the Land Franchising and Regulatory Board (LTFRB) is set to hear the petition for the fare reduction of public utility vehicles (PUVs).
LTFRB chairman Winston Ginez said the agency issued a notice of hearing on the reduction of the fares of taxis UV Express, airport taxis, and buses.
Negros Oriental Representative Manuel Iway, a former LTFRB member, filed a petition December 17 seeking to reduce the flag down fare for taxis from the existing P40 ($0.89*) to P30 ($0.67).
The current taxi rate of P3.50 ($0.078) is also proposed to go down P2.50 ($0.056) for every succeeding 300 meters.
For the airport taxis, Iway also proposed to lower the flag down rate from P70 ($1.56) for the first 500 meters and P4 ($0.089) for every succeeding 300 meters.
The lawmaker also wants to reduce bus fares from P10 ($0.22) to P8 ($0.179) for the first 5 kilometers, and from P1.85 ($0.041) to P1.50 ($0.034) for every succeeding kilometer.
The continuous decline of diesel prices should prompt transportation fare to roll back, Iway said.
Diesel prices went down to to P31.15 ($0.696) per liter from as high as P47.75 ($1.07) per liter 3 years ago. – Rappler.com
$1 = P1.07
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