Good News: Jeepney Fare Rolls Back to Nine Pesos
The one-peso rollback will "take effect immediately."
(SPOT.ph) With the continuous price increase of basic commodities, a lot of commuters were dismayed by the jeepney fare hikes implemented in November. But thanks to the declining prices of petroleum products in the market, the Land Transportation Franchising and Regulatory Board announced the rollback of minimum jeepney fares from P10 to P9 in Metro Manila, Central Luzon, and Southern Manila. This will "take effect immediately," according to the resolution, after the news is officially published in national broadsheets.
The resolution signed December 3 by the Land Transportation Franchising and Regulatory Board (LTFRB) ordered the provisional rollback of public utility jeepneys for the first four kilometers traveled in Regions 3, 4, and National Capital Region. This came after Department of Transportation Secretary Arthur Tugade ordered the regulatory board to lower fares in light of the declining price of crude oil.
In October, the board approved the fare hike from P8 to P10 due to the increasing price of diesel. After the fare hike grant, however, the world price of diesel has since gone down, prompting the one-peso rollback today.
Provisional rollbacks are "temporary," so operators will not be required to secure a fare matrix to implement new fares.
this strange new world.