Minimum jeepney fare back to P7.50 next week

[SIZE=2]Minimum jeepney fares have been increased and will return to their P7.50 level starting Monday, DZMM reported.[/SIZE]
[SIZE=2]Quoting Land Transportation Franchising and Regulatory Board Chairman Thompson Lantion, DZMM reporter Junry Hidalgo said the increase will cover jeepneys in Metro Manila, Region III (Central Luzon) and Region 4 (Southern Tagalog).[/SIZE]
[SIZE=2]Lantion said fares have been increased because of the corresponding increase in the price of diesel which is now at P36 per liter, up from the previous P33 per liter when the previous minimum fare of P7 was set.[/SIZE]
[SIZE=2]LTFRB reasoned out that the fare is just being returned to its normal levels. In fact, this was the minimum fare upon which fare matrices were computed. The minimum fare was previously at P7.50 but in December 2006, this was reduced to P7.00 as a gift to the riding public.[/SIZE]
[SIZE=2]Lantion also said the arguments for the proposed P1.50 fare increase will be heard in January.[/SIZE]


source: ABS-CBN News.com
Oct 24,2007