The Land Transportation Franchising and Regulatory Board (LTFRB) has refuted reports claiming that they have dismissed the petition for a one-peso rush hour surge or fare hike during select hours, as filed by certain transport groups.
According to the LTFRB, they have merely set aside the initial plea in response to the latest proposal by the operators' coalition, which seeks a two-peso fare increase for the first four kilometers of travel due to the recent oil price hike.
"We would like to clarify that the first petition filed by some transport groups regarding the P1 rush hour fare hike has not been rejected but rather set aside right after a new petition for a P2 fare increase was filed," the agency said in a statement.
This development follows a series of consecutive weeks of rising oil prices, including diesel and crude.
"The LTFRB Board will still, however, resolve the first petition while prioritizing the most recent one filed due to oil price hike," it added.
LTFRB Chairperson Teofilo Guadiz III previously emphasized that various factors must be considered before any fare adjustments are made, thus requiring a thorough analysis, review, and meticulous examination of the proposed fare increase.
Meanwhile, transport groups including LTOP, PISTON, FEJODAP, and STOP and GO Coalition continue to assert their position in accordance with Section 4 of the LTFRB Memo from 2019.
The memo stipulates that there should be an automatic fare adjustment based on the price of petroleum products, without the need for a public hearing and special proceedings.
As per data from oil industry sources, petroleum product prices have surged for six consecutive weeks, with the possibility of further increases in the coming weeks.
