• CHERYL G. CRUZ
The Land Transportation Franchising and Regulatory Board (LTFRB) clarified June 20 that no fare increase has been approved for public utility vehicles (PUVs).
This amid proposals for a fare hike following the continued rise in fuel prices, largely driven by global supply disruptions due to the ongoing war in Ukraine and heightened geopolitical tensions in the Middle East, including the conflict between Iran and Israel.
Prices of petroleum products may increase by nearly P5 per liter next week.
Department of Energy-Oil Industry Management Bureau (DOE-OIMB) director Rino Abad said in a Philippine News Agency report that increases range from P2.50 to P3/L for gasoline, P4.30 to P4.80/L for diesel, and P4.25 to P4.40/L for kerosene.
But the LTFRB said “any adjustment to current fare rates remains on hold, pending the outcome of an ongoing study” by the Department of Economy, Planning, and Development (DEPDev), formerly the National Economic and Development Authority.
The Board’s decision on any proposed fare hike will be guided by the findings and recommendation of DEPDev, in line with regulatory protocols, LTFRB chairperson, Atty. Teofilo Guadiz III, said in a statement.
“We want to be clear: No fare increase has been approved at this stage,” Guadiz stressed. “The Board is still awaiting the results of (DEPDev) economic impact study, which will serve as basis for any future decision on fare adjustments.” | CGC
