The setting of “surge” prices on fares should not be dependent on a single transport company or even on the supply and demand, according to Land Transportation Franchising and Regulatory Board (LTFRB) Chairman Teofilo Guadiz III.
The setting of “surge” prices on fares should not be dependent on a single transport company or even on the supply and demand, according to Land Transportation Franchising and Regulatory Board Chairman Teofilo Guadiz III.
Yesterday, January 12, was the last hearing on the issue and the board gave the hail-riding firm five days to submit data on the number of times they charged a minimum base fare of P85 for short trips. But the board needs to set parameters on surge pricing, he reiterated. “What we intend to do now is to put up parameters, that only one entity can set the pricing.”
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