LTFRB Chairman greenlights the nationwide P1 fare increase on traditional and electric jeepneys. Photo from The Manila Times.
The Land Transportation and Regulatory Board (LTFRB) Chairman Teofilo Guadiz II approves the nationwide P1 provisional fare increase to electric and traditional jeepneys on Tuesday, October 3.
The fare hike shall take effect on Sunday, October 8. The increase will raise fares of traditional jeepneys from P12 to P13 and electric jeepneys to P14 from P15.
The decision considered the increasing gas prices in the past months, which adds up to the aid of the government that initially announced plans of allocating P2.95 billion fuel subsidies to public utility vehicle operators.
The proposal was presented by jeepney groups to the LTFRB asking for a P5 increase, but in ensuring the stability of the economy, the LTFRB has requested a study from the National Economic Development Council (NEDA) to further assess the possible impact of the provisional fare to the pressing inflation in the country.
The last fare increase approved by the LTFRB was in September 2022, followed by another increase a year after.