The government has ordered the provisional rollback of the minimum fare for public utility jeepneys from P10 to P9.
“Because of the continuous rollback in the price of fuel, [Transportation] Secretary [Arthur] Tugade directed us to implement a motu propio fare decrease,” said Martin Delgra III, chairman of the Land Transportation Franchising and Regulatory Board.
The rollback covers the first four kilometers of PUJ routes for Metro Manila and Regions 3 and 4, and will take effect immediately upon publication, Delgra added.
World oil prices have declined, weighed down by uncertainty over the US-China trade war and signs of increased global crude production, the Department of Energy said in its latest monitoring report.
Last week, oil companies cut pump prices by P2 per liter for gasoline and diesel, triggering the eighth weekly consecutive oil price rollback.
On Monday, more oil companies announced cuts in their pump prices.
Eastern Petroleum, Total Philippines, and Jetti Petroleum Philippines said they would cut the per liter price of gasoline by P2.00 and diesel by P2.10 on Tuesday.
Other companies that have announced rollbacks are PTT Philippines, Pilipinas Shell, Chevron Philippines, Seaoil Philippines and Phoenix Petroleum Philippines.
Senator Sherwin Gatchalian on Monday urged President Rodrigo Duterte not to lift the suspension of fuel excise tax hikes which are set to take effect in January 2019.
He said most Filipino families have not felt the effects of the oil price rollbacks, and the prices of basic commodities have not kept pace with the decline in pump prices.
Duterte’s economic managers had proposed the excise tax hike be suspended as a way of coping with rising inflation but took back their recommendation as world oil prices declined.
In the House, the committee on Transportation began deliberations on several bills that grant a 20- percent student discount on land, water, and air transport.
Committee chairman and Catanduanes Rep. Cesar Sarmiento said his panel hopes to consolidate the nine bills soon and to have the bill approved Wednesday. With Macon Ramos-Araneta and Maricel V. Cruz
READ: Rollback rolls on; oil prices cheaper by P2
READ: Oil price cuts precede tax hike”‹