LTFRB region 8 implements new fare adjustments

By MARIVIC ALCOBER (PIA 8)
July 16, 2008

TACLOBAN CITY, Leyte  –  The new fare adjustments as approved took effect and was implemented by in Eastern Visayas on July 14, the Land Transportation Franchising and Regulatory Board Regional Office 8 through its Regional Director Arthur I. Saipudin disclosed.

According to Director Saipudin, for Region 8, the approved adjustment is P1.00 for the first five kilometers (kms) and an additional P1.00 for the succeeding kilometers for Public Utility Jeepneys (PUJs).

In Tacloban, the previous fare was P6.00 for the first five kilometers and through a provisional authority which took effect May 21, 2008, it became P6.50 for the first five kms, and now the approved rate is already P7.50.

On May 19, 2008 the Board issued a Consolidated Order granting a P.50 provisional fare increase to PUJs due to the sharp increase of oil prices.

The general observation was that during the month of June, oil companies have been increasing their prices by P1.50/liter and have still been increasing this month of July, Director Saipudin said.

It was also reported that for this year alone, there have been seventeen (17) oil price increases, with prices of diesel now standing at P 52.00/liter.