Manila: Transportation Secretary Giovanni "Banoy" Lopez has directed the Land Transportation Franchising and Regulatory Board (LTFRB) to initiate public consultations on pending petitions for a fare hike in public utility vehicles (PUVs) amid escalating oil prices. Lopez emphasized the necessity of these consultations due to the potential impact of fare adjustments on inflation, which recent surveys indicate is a major concern for Filipinos.

According to Philippines News Agency, Lopez stated that addressing inflation is complex, as it is a significant concern for Filipinos based on a recent Pulse Asia survey. He acknowledged multiple petitions filed with the LTFRB for fare hikes and instructed the board to start public consultations and engage with regional directors nationwide.

Lopez also mentioned that the government is considering expanding its fuel subsidy program to assist more drivers in managing rising operational costs. He suggested that the LTFRB should explore expanding government interventions like fuel subsidies or discounts to manage inflation effectively. Lopez indicated that President Ferdinand Marcos Jr. is prioritizing this issue and will likely address it soon.

The directive follows President Marcos Jr.'s order to examine how to balance the interests of drivers and commuters amid the current oil price situation.

In a separate statement, the LTFRB announced it would recompute the appropriate fare adjustments based on petitions from transport groups Manibela and PISTON, which are seeking a PHP10 fare hike. The board will consider the public's capacity to absorb increased transportation costs and the inflationary effects on the prices of basic goods and services.

The LTFRB assured that it will issue a final resolution promptly, rather than an interim adjustment. Meanwhile, the fuel discount program will continue, with the LTFRB looking into expanding its coverage to include as many PUVs as possible and increasing the discount amount.