MANILA - Ride-hailing firm Grab on Friday said it would temporarily lower its surge pricing to help passengers adjust as the Land Transportation Franchising and Regulatory Board (LTFRB) authorized transport network companies to implement the P2 per minute travel charge effective Sept. 21.
Rush hour surge pricing will be lowered to 1.6x from 2.0x, Grab Philippines public affairs head Leo Gonzales said in a statement.
Grab said the re-imposition of the travel time component could help improve driver supply.
Previous removal of the P2 per minute charge coupled with traffic and fuels costs "forced drivers to go offline" as operations were no longer economical, Grab said.
"We hope that this will encourage our driver-partners to go back online and continue bringing more passengers home, especially this upcoming Christmas season," Gonzales said.
Breakdown of fares will still be available in the receipts as mandated by the LTFRB.