Victory Liner Urges Resumption of Fare Hikes Amid Soaring Oil Prices

MANILA, Philippines — Passenger bus firm Victory Liner on Tuesday called on the national government to lift the suspension of fare hike implementation, noting that the rising cost of fuel and other concerns may paralyze operations of provincial and city buses. The Land Transportation Franchising and Regulatory Board (LTFRB) approved an across-the-board provisional fare hikes The company pointed out that the across-the-board provisional fare hikes approved by the Land Transportation Franchising and Regulatory Board (LTFRB) have been temporarily suspended, posing a significant challenge to its operational sustainability. Victory Liner highlighted that fuel costs constitute a substantial portion of their operating expenses. The continued surge in oil prices, coupled with other rising operational costs, is making it increasingly difficult to maintain services, they warned. This appeal from Victory Liner underscores the broader economic pressures facing public transportation in the Philippines. While geopolitical tensions in the South China Sea can influence global oil prices, the company's immediate concern centers on the direct impact of fuel costs on its ability to continue operating. The government faces the challenge of balancing the need to keep public transport affordable for commuters with the necessity of ensuring the viability of transport companies.