Asia Bizz: Philippines’ LTFRB has officially approved the 1 peso Jeepney fare hike in the country, and from February 2nd, commuters travelling through this medium will need to payout some extra cash. Jeepneys are cheap and a common mode of transport in Philippines. The Land Transportation Franchising and Regulatory Board (LTFRB) officially decided to approve the fare hike on Monday.
The passengers who will be en route to Luzon will need to pay P8 for the first four kilometres of travel, instead of P7. Most of the members at the LTFRB and the chairman had voted for the price hike and this was a strong decision by the board.
The price rise has been seen almost everywhere in the country, and the drivers and employees of the LTFRB insisted that they should go ahead with the hike in the fare rates. As the rate of many goods were going up and the Board had to see the transport system’s revenue to be stable, the decision to bring a price hike in the fares.