LTFRB justifies approval of recent taxi-fare increase | BusinessMirror

The current fare matrix is as follows: a P40 provisional flag down rate, P3.50 per succeeding 300 meters and a P3.5 charge for waiting time.

The board decided to rule in favor of several consolidated petitions Prices of gasoline have increased over the course of the seven-year hiatus on permanent taxi-fare adjustments.

“What convinced the board in resolving in favor of petitioners’ prayer for fare increase is the fact that the last increase was granted way back in 2010, or seven years ago. From the past decisions and orders of this board relative to fare adjustment, the prices of fuel was the major concern,” the decision read.

According to the decision, average pump price from end-May to early- September 2017 was at P43.44 per liter, which increased by “more or less 30 percent” from gasoline prices a year before. Unleaded gasoline was around P29 to P37 per liter during the period under review.

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LTFRB justifies approval of recent taxi-fare increase | BusinessMirror.