(UPDATE) The Land Transportation Franchising and Regulatory Board (LTFRB) is warning ride-hailing apps Uber and Grab not to take advantage of the holiday season as a reason to unreasonably surge their respective rates.

The LTFRB said in a statement that they have received complaints of surge rates that amount to thousands of pesos.

They added that Uber has not consulted them on its "upfront fares based on predictions."

Uber began offering fixed fares on all of its uberX transactions last October.

"LTFRB reserves its right to suspend/cancel the accreditation of Uber and Grab if these unreasonable surges will persist," the statement read.

In answering this concern, an Uber spokesperson said demand is sometimes high so the number of available cars becomes insufficient.

"During these times, dynamic pricing will automatically go into effect in these locations to encourage more drivers to get out on the road," he said.

But he noted that the rates go back to normal as demand goes down and more cars free up.

"The objective of dynamic pricing is to ensure that you will always have a choice to get a ride, and not get stuck with no options left," he said.

The LTFRB is urging the commuting public to report any violation at 0917-550-1342 or 0998-550-1342.

Photos and screenshots of violation incidents may also be reported via email at complaint.ltfrb.gov.ph@gmail.com.