THE Utilities Consumers Alliance of Negros (UCAN) will come up with a petition letter asking the regional director of the Land Transportation Franchising and Regulatory Board (LTFRB) to study the possibility of reducing fares of public utilities jeepneys following the rollback in the prices of fuel.

UCAN president Fr. Ernie Larida said Wednesday in an interview over ABS-CBN Bacolod that they are looking at the possibility of seeking a reduction from P7 to P6.

LTFRB regional director Romulo Bernardes said they will wait for the petition letter of UCAN and conduct a public hearing to determine how much will be the reduction.

They will then transmit the transcript of the public hearing to the Board, he added.

Meanwhile, businessman Crispin Chua cited a CNN report Wednesday that prices of oil will jump by 30 percent in seven days trading thus, "we (can) expect price increase next week." (CNC)