On Monday, the Land Transportation Franchising and Regulatory Board (LTFRB) will announce a lower jeepney fare.
According to LTFRB Chairman Martin Delgra, the fare rollback will be announced through a board resolution. The jeepney fare cut was decided is due to the continuous rollback of fuel prices.
“After the prices of fuel have peaked some time in October, bumaba nang bumaba na ang presyo ng krudo. And for which reason, Secretary Tugade directed LTFRB to rollback the fare rate, and that is basically what we’re doing,” he said.
Apparently, the price of Dubai crude oil has already decreased by 14 percent to an average of $68 per barrel in November from $79 per barrel in October.
The jeepney fare rollback will be implemented this week.
The rollback comes less than a month after a jeepney fare increase was implemented in parts of the country. In November, the minimum fare for jeepney passengers in Metro Manila, Central Luzon, and Southern Tagalog was set to P10.
Now, it will be P9 after the rollback has been implemented.
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