Just this morning past 9AM LTFRB grant a provisionary reduction in jeepney fare by a 1 peso effective immediately. Current fare is 8pesos and 50centavos pesos down to 7pesos and 50centavos.
World oil price are consistently on a downward trend for several months now. Public transport group however will petition fare increase if oil prices goes up.
Generally fare hiked effects are increased in the prices on basic commodities with this fare reduction will this result in effect reversal?
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