The Land Transportation Franchising and Regulatory Board (LTFRB) approved increases in fares of public transportation on Friday.

It earlier said the board recognized the need for a fare increase following the continuing rise of oil prices. LTFRB said it consulted the National Economic Development Authority and the Department of Energy.

The fare hikes take effect on October 4 once the LTFRB decision is published, the Department of Transportation said.

For jeepneys, the minimum fare is at P12 from P11 for a provisional increase of one peso. The minimum fare for modern public utility vehicles will be 14.

For taxis and TNVS, the flagdown rate was raised by P5 to 45. For AUV/SUV-type vehicles it will be P55. Fares will not increase for the next kilometers.

For buses, minimum fares will go up by P2 or for the first five kilometers of public utility buses for city and provincial operation. The next kilometers will be increased between 35 centavos to 50 centavos depending on the type of bus. DMS