CEBU, Philippines — The transport network company, Grab Philippines, remains optimistic that the Land Transportation Franchising and Regulatory Board (LTFRB) will approve its petition for fare increase.
The ride-hailing company asked the LTFRB for a 5.73 percent in its average fare, or from P10 to P14 per kilometer charge to P11 to P15, in addition to the base rate of P40.
It also asked the LTFRB for an increase in its per-minute charge, from P2 to P2.10.
Grab said its current base rate is at P40 and an additional P10 to P14 for every kilometer travelled by the vehicle.
For a six-seater car, Grab is asking for a new fare rate of P14 to P20 per kilometer from its current fare rate of P13 to 19, on top of the P60 base fare.
In a four-page petition filed earlier this month, Grab pointed out the impending price hikes on petroleum products following the passage of the Tax Reform for Acceleration and Inclusion (Train).
Under the Train Law, gasoline will be subjected to higher excise tax of P7 per liter.
Raenald de Jesus, deputy country marketing head of Grab Philippines, said they have already submitted their petition to LTFRB and it's up to the board to decide whether or not to approve it.
Grab, in its petition, said the increase in fare would ensure that the current technology would continue giving the riding public the capability of selecting the kind of vehicle desired, the time of pick up and the exact location of pick up and drop off.
"This requested increase would guarantee the riding public the security of real-time GPS tracking, transparent pricing and the comfort of riding in a new, clean, and safe vehicle," reads the petition. —KBQ (FREEMAN)