Bus group eyes fare hike as oil price rise looms

A group of provincial bus operators said it will call for a fare increase as 12 routes to the provinces will finally open on Sept. 30, according to a report on 24 Oras News Alert on Saturday.

The South Luzon Bus Operators said it will request the fare increase on Monday.

The Land Transportation Franchising and Regulatory Board said the fare will be maintained for the opening of the modified provincial bus routes to and from Metro Manila and Regions 3 and 4-A.

The LTFRB allowed only 286 buses to resume operations starting Sept. 30.

According to the group, operators and drivers will lose  since buses are only allowed to accommodate 50 percent of their passenger capacity.

The group will also ask the LTFRB to allow more buses to operate and to open more routes.

Meanwhile, pump prices are expected to have a mixed movement this week with gasoline prices going up by P0.20 per liter but diesel prices staying the same.

“Expect fuel prices to have a mixed movement next week (Sept. 29 to Oct. 5). Diesel should have no price change. Gasoline should increase by P0.20 per liter,” Unioil Philippines said in its weekly advisory.

The global demand outlook continues to worry oil traders due to the impact of the coronavirus pandemic.

The re-imposition of a lockdown in France and the UK and rising cases in the US raised concerns on the global oil price recovery.

On Sept. 22, the oil companies adjusted pump prices and gasoline prices went up by P0.60 per liter, diesel by P0.20 per liter and kerosene by P0.55 per liter.

Topics: 24 Oras News Alert , South Luzon Bus Operators , LTFRB , Unioil Philippines
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