IN THE wake of significant reduction in the prices of fuels, a local business leader said that the government should impose reduction in fare rates and food prices.
Frank Carbon, president of Metro Bacolod Chamber of Commerce and Industry (MBCCI), said on Tuesday that the series of rollbacks in the prices of fuels has already reached about 31 percent, which is significant enough to effect reduction in fares for commuters.
It will have a chain effect that will also lower the prices of basic commodities especially food products, he added.
The lowest price of diesel fuel is now pegged at P32.90 per liter from P48 per liter before the rollbacks were imposed.
Carbon said it is time for the Land Transportation Franchising and Regulatory Board (LTFRB) to meet with the leaders of local transport organizations and discuss possible reduction in fare rates.
The Department of Trade and Industry (DTI) should also monitor the prices of basic commodities, and the Department of Agriculture, the prices of food products, he added.
Like in sea transport, most companies imposed reduction of fares through promos to at least pass on to the passengers the fuel price reduction, said Carbon, who runs the operations of Weesam Express in the cities of Bacolod and Iloilo.
“Since the rollback in fuel prices could be temporary, we imposed the reduction through promos,” he said.
Carbon added that even without salary increase, consumers would greatly benefit if the prices of basic commodities would be reduced.
The LTFRB has already imposed a P1 fare reduction in Metro Manila last week, but the Federation of Bacolod City Drivers Association and United Negros Drivers and Operators Center said there is no need to reduce the P7.50 regular fare in the province because it is already lower compared to Metro Manila’s P8.50.
Oil companies imposed anew significant fuel price rollback at the average of P1.75 per liter for gasoline; P1.55 per liter for diesel; and P1.80 per liter for kerosene effective December 14.