Transport groups slam ‘insufficient’ fare hike

MANILA, Philippines - A fare increase of P1 for land transport services is not enough to offset profit losses from recent oil price hikes, transport groups said yesterday.

Pointing out that the approved fare hike came from a petition in March "when pump prices were around P45 to P50 per liter," Manibela chairman Mar Valbuena said they are hoping "it can be increased further by P1."

Piston national president Mody Floranda said pump prices have increased by around P50, resulting in jeepney drivers losing at least P1,000 a day.

Transport groups are on strike until tomorrow, demanding that the government roll back pump prices and suspend fuel-related taxes.

Oil companies are set to roll back pump prices across the board today, with diesel, the fuel of traditional jeepneys, dropping by P7.57 per liter.