COMMUTERS will face higher transportation costs starting Thursday after the Land Transportation Franchising and Regulatory Board (LTFRB) approved fare increases for public utility vehicles (PUVs) amid soaring pump prices, a move that could add to inflationary pressures.
“It is the sense that every week, we see substantial, not just minimal changes (in oil prices). With the board’s permission, and the facts we have considered, there will be changes in transport fares. This (fare adjustment) will be permanent,” LTFRB Chairman Vigor D. Mendoza II said in a media briefing on Tuesday.
PUV operators can implement the adjusted fares on March 19, or as soon as they secure the new fare matrices and post them in their units, Mr. Mendoza said, adding that the fare hike will be permanent by June.
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