MANILA - Point-to-point premium bus service (P2P) operator RRCG on Friday announced a fare increase to cover rising fuel costs.
Starting Friday, RRCG raised the P80 fare for the Alabang-Makati route by P20, RRCG said in a statement.
The added fee will cater to overhead expenses incurred due to the continuous increase in prices of petroleum products, RRCG said. It said it has experienced an increase of more than 70 percent in fuel costs over two years since it started operations.
The operator said the Land Transportation Franchising and Regulatory Board (LTFRB) Memorandum Circular 2015-027 stated that the route's fare should be P110 but it ran on a promotional P50 subsidized fare for a year.
It later raised the price to P80. With the latest increase, the fare is now at P100.
The P2P operator apologized for the fare increase and assured the riding public that this would go to further improving its service.
Various public transport operators have filed petitions for fare hikes, while airline operators were seeking to collect fuel surcharges amid rising costs of global fuel prices.