MANILA, Philippines — In a major reversal of the earlier LTFRB announcement, President Ferdinand “Bongbong” Marcos Jr. has ordered the immediate deferment of the approved fare increases for jeepneys, buses, and taxis. Speaking at a snap press briefing in Malacañang, the President declared that implementing a fare hike while the global economy is reeling from the “Third Wave” of fallout from the Middle East conflict would place an “unbearable burden” on the Filipino working class.
The suspension effectively puts a hold on the planned ₱1.00 to ₱2.00 increases for public utility vehicles (PUVs) and the ₱5.00 flag-down rate adjustment for taxis that were set to take effect in April. The President emphasized that the government must first exhaust all subsidy and social protection measures before asking the commuting public to pay more.
“We have analyzed the numbers, and while we understand the plight of our drivers, it is simply not the right time to increase fares,” President Marcos stated. “The international crisis has already driven up the cost of food and basic services. To add a transport hike on top of that would be a double blow to our people. We will find other ways to support our transport sector that do not involve taking money out of the pockets of our commuters.”
To compensate for the deferred hike and support the transport industry, the President has directed the following “Emergency Relief Measures”:
- Immediate Subsidy Release: The Department of Budget and Management (DBM) has been tasked to release an additional ₱3 billion to fast-track the next tranche of the Pantawid Pasada fuel subsidy program, ensuring drivers receive their ₱6,500 vouchers by the end of March.
- Fuel Discount Caravans: The Department of Energy (DOE) will partner with major oil firms to establish “Socialized Pricing Zones” where PUV drivers can refuel at a discounted rate, bypasssing some of the recent “diesel double whammy” price surges.
- Expanded Service Contracting: The “Libreng Sakay” and service contracting programs will be expanded in Metro Manila and key cities to provide guaranteed income to drivers regardless of passenger volume, insulating them from fuel price volatility.
- Tax Review: The President has also asked his economic team to revisit the “trigger mechanism” for the suspension of fuel excise taxes, suggesting that the “Third Wave” of the global crisis may justify a more aggressive tax intervention than previously planned.
The decision has been met with relief from commuter advocacy groups but has raised concerns among transport operators, some of whom claim they are already operating at a loss. In response, Speaker Inno Dy V confirmed that the House will use the current recess to study a “Supplementary Transport Support Bill” to provide long-term low-interest loans for cooperatives struggling with maintenance costs.
The deferment comes as the Amihan (Northeast Monsoon) weakens, and temperatures across the country begin to climb. With the dry season approaching and schools preparing for end-of-year rites, the fare freeze is seen as a critical move to stabilize the cost of living for millions of Filipino families.
As the global situation remains fluid, the President noted that the deferment is “temporary but necessary,” with a formal review scheduled for the end of the second quarter once the impact of the current energy buffer-building efforts becomes clearer.