A provisional increase in jeepney fares will be implemented before the end of the year amid weeks of continuous oil price hikes, Land Transportation Franchising and Regulatory Board (LTFRB) chair Teofilo Guadiz said yesterday.
The board has yet to determine the amount of the fare increase, but hopes to implement it by November, Guadiz added.
He said the board would still need to coordinate with the National Economic and Development Authority (NEDA) to determine the amount as any fare increase will have an impact on the economy.
“We have to consult NEDA. Is it P1? Is it 50 centavos? But definitely there will be a provisional increase. The issue now is how much and when,” he said in an interview.
The next hearing for the fare hike petition is scheduled for Sept. 26.
Different transport groups are seeking between P2 and P4 increase in the minimum fare of jeepneys.
Meanwhile, the LTFRB said that the fund for around 50,000 beneficiaries of the fuel subsidy program was credited yesterday to the Land Bank of the Philippines for distribution.
Yesterday was the start of the distribution of the P3-billion fuel subsidy to public utility vehicle operators.
Guadiz appealed for understanding after receiving reports that the fuel subsidy failed to load in the cash cards of public utility vehicle operators.
The LTFRB said it is coordinating with Landbank to expedite the release of the assistance to public utility vehicle operators.
Around 1.36 million PUV operators are set to benefit from the fuel subsidy.