Philippine bus operators press Marcos for fare hike as diesel prices soar

Manila, September 22 - Bus operators in the Philippines are urging President Ferdinand Marcos to permit fare increases, citing the impact of skyrocketing diesel prices on their operations, reported AFP. The escalating fuel costs, driven by the war in the Middle East, have nearly doubled the price of diesel since February when the US and Israel launched strikes against Iran.

Despite a fare hike approved by the Philippine transport board in March, Marcos reversed the decision the following day, leaving ticket prices unchanged. Currently, diesel costs approximately 8.82 pesos per liter, up by 8.82 pesos (0.60 Malaysian Ringgit). The group of companies representing the country's bus lines, representing 116 million Filipinos, stated that the rising fuel costs threaten their operations' viability.

They requested a "fair and sustainable fare" that accurately reflects the actual expenses of public transportation, without seeking financial aid from the government. The Philippine transport department expressed hope for a favorable decision on the fare hike in the coming days. Philippines declared a national energy emergency in March, forcing the country to seek fuel from various sources, including Russia due to its import dependency.

Unlike neighboring countries like Indonesia, Malaysia, and Thailand, the Philippines does not regulate fuel prices, leaving local transport firms to bear the brunt of market fluctuations. The Marcos administration provided a one-time subsidy of 10,000 pesos per vehicle in March, alongside additional support for transport workers such as taxi drivers and jeepney drivers. However, diesel reserves stand at 57 days, while petrol reserves are sufficient for 56 days.