MANILA — The Land Transportation Franchising and Regulatory Board (LTFRB) on Friday denied a petition to increase the minimum jeepney fare by P1 amid skyrocketing oil prices.

In a statement, the LTFRB said it rejected the provisional fare hike requested by transport groups 1-Utak, Pasang Masda, ALDTODAP, and ACTO, which means that the minimum fare stays at P9.00.

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The board explained in its decision that it had to balance the rights of the riding public who are mostly dependent on the public transport system and of operators to gain profit.

“While it recognizes the present clamor of stakeholders in public land transportation services for necessary action relative to fare rates, they cannot be insensitive to the plight of Filipinos every time an increase on the prices of the commodities occurs, as a domino effect to the grant of fare increase,” the LTFRB said.

It added that it also had to consider the argument of the National Economic Development Authority (NEDA) that passing on the burden of fare hikes to consumers may “reduce the purchasing power of the general public.”

The NEDA earlier noted that any petition for fare adjustment is a matter of public importance as fare hikes may also affect prices of other basic commodities and services.

The LTFRB also cited the administration’s other remedies to address the series of oil price hikes, such as the fuel subsidy program for the transport sector.

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“The LTFRB has started crediting fuel subsidies in the amount of P6,500 to PUVs and will continue distributing subsidies until the end of March to 377,433 beneficiaries,” the board said.

As of Friday, it has released around P700 million in fuel subsidies to public utility vehicles (PUV), including jeepneys, the LTFRB said.

Pasang Masda said it retracted its fare hike petition last week as as soon as the government pushed for the distribution of fuel subsidy.

“Nagpapasalamat kami dahil pinakinggan kami at nakipagpulong kay [DOTr] Secretary (Arthur) Tugade. At tinugunan naman niya ang hiling namin na fuel subsidy. Nag-uumpisa na kaming i-distribute ito sa aming mga miyembro," Pasang Masada president Obet Martin said.

As of this writing, transport groups are also waiting for a decision from the LTFRB on a separate petition they filed to increase the minimum fare from P9 to P14.

A hearing on the said petition, the LTFRB said, is set on March 22.

-- with report from Jacque Manabat, ABS-CBN News

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