MANILA, Philippines, August 6 ------ The so-called Magnificent 7, composed of the biggest transport groups in the country, will meet to discuss the impact of the impending increase of over P3 per liter in the retail prices of diesel, a transport leader said.
The private grid operator announced the status in an advisory at 8:26 p.m. The grid was on red alert from 1 p.m., which meant supply was not enough to meet demand that resulted in power outages in some provinces. NGCP earlier said the red alert was raised as five power plants were on forced outage, while three others had low output. The alert was downgraded to yellow by 6 p.m., which meant power reserves were thin. Power was restored in parts of Luzon before the yellow alert was lifted.
The price of diesel is forecast to increase between P3.20 and P3.50 per liter while kerosene may go up between P2.90 and P3.20 per liter. “The government should restore the PUJ lanes in the gasoline stations,” Vargas said. He did not categorically say if transport groups would demand for another fare hike, saying it will be discussed during the meeting. The current minimum fare for traditional and modern jeepneys is pegged at P12 and P14, respectively.
The fare hike was last implemented on Oct. 3, 2022 after the approval of the Land Transportation Franchising and Regulatory Board.
Source: philstar.com
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