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Sunday, July 06, 2008 (Philippines)
| NOT TOO PUMPED UP. Passenger jeepney driver Edgardo Barbosa looks forlorn as he scans the new prices of diesel and other fuel products at a gasoline station in Barangay Mabolo, Cebu City. Diesel prices shot up by P2 a liter yesterday. (Sun.Star Photo/Allan L. Cuizon) |
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COMMUTERS need to brace for higher fares soon, after oil companies yesterday increased diesel and kerosene prices by P2 a liter and gasoline prices by P1 a liter.
It was the 18th increase in pump prices so far this year.
The increase came a day after government announced that rising prices of food and fuel pushed the inflation rate to its highest level in 14 years, at 11.4 percent.
Given the relentless oil price increases, Land Transportation Franchising and Regulatory Board (LTFRB) Chairman Thompson Lantion said the agency is likely to approve a P1 fare increase for jeepneys and a P10 “add-on” in cab fares.
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