Manila, Philippines — On Tuesday, September 22, another round of oil price increase has been implemented.
For diesel, there has been an increase of P8.82 per liter; P6 47 per liter hike in kerosene; and P4.88 per liter increase in gasoline.
Amid the new round of oil price hike, the provincial and city bus companies and operators have directly called on President Ferdinand Marcos Jr. to lift the suspension of the previously approved fare increase of LTFRB.
In a solidarity statement, the bus organizations said that the industry is ‘bleeding’ and is in a difficult situation due to the continuous increases in oil prices.
They noted that 45-60% of their operating costs has been allotted to fuel, and that the current fare is not enough to cover the operation costs.
This is still aside from other expenses including modernization loans, spare parts, tires, maintenance, insurance, toll fees, and regulatory compliance.
With this, they appealed not for an ayuda or assistance but a fair and sustainable fare to maintain its operations in the industry.
If this continues, they worry that it will put the industry in a more difficult situation, in terms of continuing the operations and public service.