LTFRB-7 sets rate rollback hearing on Wednesday
The Central Visayas regional office of the Land Transportation Franchising and Regulatory Board (LTFRB-7) will recommend a 50 centavo provisional rollback of minimum jeepney fares pending the resolution of a petition formalizing the measure.
Reynaldo Elnar, officer-in-charge of LTFRB-7, said they will submit their recommendation to the LTFRB when it convenes to hear the petition of former Cebu City councilor Augustus Pe Jr. on Dec. 17.
Once approved, the temporary (minimum) fare will be P7 not just for Cebu City but for the whole of Central Visayas,” Elnar said.
The present minimum jeepney fare in the region is P7.50.
The other regional offices of the LTFRB are also doing the same following Thursday’s announcement of a one-peso fare rollback that will cover routes in Metro Manila and its suburbs.
The downtrend in diesel prices was cited as primary reason for the rollback.
In his petition, Pe also cited figures posted on the Department of Energy (DOE) website that the common price of diesel as of Nov. 18 is P36.60 per liter. Diesel prices ranged from P34.40 to P37.50, he said.
Pe also quoted a DOE report that most of the oil companies implemented a price roll-back of 80 centavos per liter for gasoline, 50 centavos per liter for diesel and 35 centavos per liter for kerosene effective last Nov. 18.
Elnar said that they have yet to receive the petition of the Cebu South Mini Bus Operators Association for a one-peso rollback in minimum bus fares for minibuses.
The present minimum bus fare is P6 for the first five kilometers and P1.20 for every succeeding kilometer.