MANILA, Philippines — A Land Transportation Franchising and Regulatory Board (LTFRB) official on Tuesday, October 12, 2021, said public transport fare may have an increase of P1.26, should a proposal be approved.
“Kung pagbabasehan po natin ‘yung atin pong formula na ginagamit po base po d’on sa memorandum circular na pinalabas po ng board at batay po d’on sa mga increases ng atin pong petrolyo, based doon sa’ming computation po kung babalikan natin ‘yung year-on-year na increase po eh mga at least, hindi po lalampas ng P1.26 more or less po,” LTFRB Executive Director Joel Bolano explained during the Laging Handa briefing.
(If we base it on the formula we use according to the memorandum circular released by the board and the increases on petroleum prices, based on our computation, if we look back on the year-on-year increases, at least, it will not exceed P1.26 more or less.)
This, after transport group Pasang Masda recently shared that they will file a petition for a P3 fare hike amid the rising prices of oil.
Bolano said that they will study and look into the petition, once they receive it.
“Tungkol po d’on kung ito po ay iga-grant ng ating board, ayaw ko naman pong i-preempt ‘yung decision ng ating board,” Bolano said.
(About the board’s granting of the petition, I do not want to preempt the decision.)
“Ito po ay aaralin base po doon sa situation natin ngayon lalo na po sa presyo po ng ating langis sa ngayon sa merkado. Malalaman po natin ‘yan ‘pagka po ayan ay na-evaluate na at napa-receive po sa atin ng ating mga petitioner,” he added.
(This will be studied based on our situation especially amid the rising prices of oil in the market. We will know that when it is already evaluated and received from our petitioners.)
Bolano likewise said that LTFRB and the Department of Energy have discussed the possibility of providing cash or financial subsidies for affected operators and drivers.