Amid the big-time oil price hike next week, the Land Transportation Franchising and Regulatory Board (LTFRB) on Friday said no fare adjustments have been approved for public utility vehicles, including jeepneys.
LTFRB chairperson Teofilo Guadiz III said the Board has yet to wait for the recommendations of the National Economic and Development Authority (NEDA) after its study on the economic impact of the fare adjustment.
Guadiz emphasized that any increase to current fare rates remains on hold pending the outcome of NEDA’s ongoing study anchored on regulatory protocols.
“We want to be clear: no fare increase has been approved at this stage,” he maintained.
“The Board is still awaiting the results of NEDA’s economic impact study, which will serve as the basis for any future decision on fare adjustments,” he said.
The clarification comes amid public speculation and proposals from some transport groups seeking a fare increase in response to operational challenges.
Guadiz said the LTFRB is committed to a data-driven, balanced approach that considers both the economic realities of operators and the financial welfare of commuters.
“Fare adjustments are a serious matter that require careful study, especially considering the current economic conditions,” he said.
“We are not rushing into a decision. We are waiting for NEDA’s analysis, and the Board will act based on facts and expert recommendation,” he added.
According to Guadiz, they are actively coordinating with relevant agencies and stakeholders and would eventually release official updates once the NEDA study is completed and a recommendation is submitted.
Proposals for a fare hike were prompted by the continuing rise in fuel prices, largely driven by global supply disruptions stemming from the ongoing war in Ukraine and heightened geopolitical tensions in the Middle East, including the conflict between Iran and Israel.
