Monday, July 14, 2008 Drivers can start charging new fare with new matrix
THE Land Transportation Franchising and Regulatory Board (LTFRB) in Southern Mindanao has given the go-signal for public utility jeepneys (PUJ) to implement the fare rate hike approved last week.
The minimum fare is now increased from its previous rate of P7.50, with the provisional increase provided by the LTFRB, to P8 for the first four kilometers.
The P0.50 provisional increase imposed by the LTFRB last May was revoked and was replaced by a P1 increase for the minimum fare, while the rate for every succeeding kilometer was raised to P1.50 from its previous rate of P1.25.
However, the LTFRB warned drivers that they could only implement the new fare rates if the drivers have already secured their copies of the new fare rate matrix, which the LTFRB will distribute Monday.
LTFRB-Southern Mindanao administrative officer Edgar Violan said in an interview Friday that unless the PUJs have their fare rate matrices plastered in their respective vehicles, they could not impose the new fare rates.
He added that for the taxi companies, the additional P10 increase could only be implemented on July 24. "And the taxis must have the sticker that will be distributed by the LTFRB."
Over the weekend, the major oil companies in the country have again increased pump prices, which is a couple of days after they imposed a P1 per liter rollback.
As of Friday, international trading on petroleum products pegged its price at $147 per barrel. (CPM)
