₱12 NA MINUMUM NA PAMASAHE SA JEEPNEY HINIHIRIT NGAYONG 2018!

Transport group Pasang Masda plans to file a petition before the Land Transportation Franchising and Regulatory Board (LTFRB) asking to raise the minimum jeepney fare to P12 in light of the higher excise tax for oil products under the Tax Reform for Acceleration and Inclusion (TRAIN) law.

In a Balitanghali report by GMA News' Jam Sisante on Tuesday, Pasang Masda national president Obet Martin said the increase would allow jeepney operators to cushion the newly-implemented tax measure's "domino effect" on prices, which include higher excise taxes on oil products.

He cited the initial P2.50 per liter excise tax imposed by the TRAIN law on diesel this year. The tax will gradually rise to P6 by 2020.

A petition filed by transport groups in September asked for a P2 hike, seeking to bring the minimum jeepney fare from P8 to P10. Martin said the group will file next week an addendum to the existing petition filed by the other groups.

Meanwhile, Trade and Industry Ramon Lopez said consumers may not bear the effects of the oil excise tax until the third week of January.

As clarified by the Department of Trade and Industry, the Department of Finance and the Department of Energy, the new excise tax rates levied upon importation do not apply to the existing stocks of petroleum products in the country's oil companies.

President Rodrigo Duterte signed into law on December 19 the tax package which also increases excise taxes on automobiles, sugar-sweetened beverages and tobacco in order to raise revenues for the administration's programs.