Philippine bus lines press Marcos for rate hike as fuel prices soar

MANILA: Philippine bus operators have urged President Ferdinand Marcos to permit fare increases, citing the impact of escalating fuel costs on their operations. The situation worsened as the cost of diesel, fueling most buses, nearly doubled following the Middle East conflict in February. Despite a previous fare hike in March, President Marcos reversed the decision.

Currently, diesel prices have surged by 8.82 pesos per liter, equivalent to approximately 14 US cents. This escalation has left bus companies with no viable alternative but to consider raising their fares, according to a statement from several bus line associations representing 116 million Filipinos. The statement emphasized that the companies do not seek government assistance, but rather a fare structure that aligns with the actual operational costs.

The Philippine transport department expressed hope for a positive decision on fare adjustments in the coming days. Meanwhile, the Philippines declared a national energy emergency in March, relying heavily on fuel imports, including from Russia, to meet its demands. Unlike neighboring countries like Indonesia, Malaysia, and Thailand, the Philippines' fuel prices remain unregulated, leaving domestic transport firms to confront market volatility.

The Marcos administration had provided an initial subsidy of 10,000 pesos per bus in March, alongside additional support for transport workers and operators of taxis and jeepneys. The country currently holds a 57-day reserve of diesel and a similar reserve for petrol.