Jeepney transport. Image via WikipediaA few days after the implementation of the minimum fare increase for taxis in the country, the Land Transportation and Franchising Regulatory Board (LTFRB) has already approved the petition of transport groups to increase jeepney fares by one peso. This provisional fare increase will take effect this coming Wednesday, February 2, 2011.
Also, the fare increase is effective nationwide. For Luzon jeepney passengers, the minimum fare will be 8 pesos (from 7 pesos) while Visayas and Mindanao jeepney drivers will charge 7.50 pesos fare (from 6.50 pesos). Minimum fare is effective in the first four kilometers but the rate for succeeding kilometers will not change.
The reason for the fare increase is the continuous increase in fuel prices. The LTFRB from time to time will consider any needed adjustments based on oil prices.