00:00The Land Transportation Franchising and Regulatory Board
00:04filed a petition to raise the minimum fee to Php 15.
00:10The LTFRB held a hearing on Wednesday, February 19
00:15and invited all stakeholders to attend the hearing.
00:19According to the agency, the petition was submitted by transport groups in October 2023
00:25but the agency did not take action immediately.
00:28Instead, they gave a provisional increase
00:32and raised Php 13 to the previous Php 12 of the minimum fare.
00:37The LTFRB assured that one of the main factors in their decision
00:41is the trend in the price of oil, inflation rate
00:44and the overall effect on the economy of the fare hike.
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