Starting tomorrow, May 15, 2012, Tuesday, the minimum fare in jeepneys will be back to P8.
Land Transportation Franchising and Regulatory Board (LTFRB) has issued a recall order on the P0.50 provisional increase that was implemented since March.
LTFRB board member Atty. Manuel Iway said it was included in the order that the provisional increase will be recalled if the price of diesel reaches P45 or lower. Gasoline prices are now at the P54/liter range, while diesel prices are around P44/liter.
Oil companies has implemented bigtime rollbacks starting Monday.
Aside from the recall order, LTFRB has also junked the P2 fare increase petition of other transport groups because of the continuing decrease in prices of oil products.
Meanwhile in Visayas, the minimum fare will be P7.50 for the first four kilometers.
LTFRB has warned jeepney drivers to follow the fare adjustement, else will be fined of the following:
- First offense - P2,000 with 15 days suspension
- Second offense - P3,000 with 60 days suspension
- Third offense - P5,000 with cancellation of franchise or revoking of driver's license.
Photo: Rjblaze93, TravelPod