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Fare rollback ‘possible’ if oil price cuts continue–LTFRB

Posted by Abi Kwok on August 26, 2008

By Abigail Kwok
INQUIRER.net
First Posted 13:58:00 08/26/2008

MANILA, Philippines — If oil price rollbacks continue, there is a “possibility” that public fare will also go down, the Land Transportation and Franchising Regulatory Board (LTFRB) said on Tuesday.

In a press conference, LTFRB chief Thompson Lantion said it would only be “reasonable” for fare to go down if oil prices would continue to decline in local markets.

He added that there would also be no fare increase in the coming weeks.

“Sa nangyayaring pagbaba ng presyo ng langis, wala kaming nakikitang pagtaas ng pasahe [With the prices of oil going down, we don’t see any increase in fare],” Lantion said.

Provincial bus groups Provincial Bus Operators Association of the Philippines (PBOAP) and Southern Luzon Bus Operators Association (SOLUBOA) also deferred their petition for a provisional fare increase for both regular and air-conditioned buses.

The petition, filed last July 22, was set for hearing on August 28. But PBOAP president Homer Mercado said they decided to file for a motion to defer because of the downward trend of oil prices.

“Because of the recent developments, we deemed to defer the hearing so we can study the movement of the oil prices,” he said.

Both groups are seeking for a provisional fare increase from P9 to P11 for the first five kilometers for regular buses and from P2 to P2.20 for every kilometer. For air-conditioned provincial buses, a provisional fare increase of P2.60 was sought for every kilometer for regular air-conditioned buses; P2.70 for deluxe air-conditioned buses; P2.80 for super deluxe air-conditioned buses; and P3 for luxury air-conditioned buses.

Mercado said that if diesel prices would go down to P42 to P45 per liter, the group would be seeking a fare rollback.

“Kapag bumaba ang presyo ng diesel, bababa din ang pasahe [If the price of diesel goes down, fare will also go down],” he said.

The recent oil price rollbacks were the fourth in a month, bringing down oil prices from more than P60 to around P55 per liter.

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