The LTFRB has recently approved the 1 peso provisional fare increase which means that the minimum fare for jeepneys in Metro Manila will be increased to 8 pesos.
Some groups are against the increase
According to LTFRB Chairman Delgra, they approved the fare increase after they took into account the rising price of diesel as well as other petroleum products.
While transport groups are happy that the LTFRB granted their petition, other groups, such as GABRIELA have expressed their disappointment regarding the fare increase, citing that the fare increase would make poor workers as well as students suffer.
Gabriela Secretary General Joms Salvador shares, "If the government really wants to help ease the economic hardships of drivers and poor housewives, it must decisively repeal the Oil Deregulation Law, break up the oligarchy that controls the energy industry, and help the transport industry with a pro-poor transport modernization program that ensures jobs security for drivers and operators."
The cost of other goods might increase as a result of the fare hike
Additionally, the fare increase would mean that the price of other basic goods such as vegetables, meat, and fruit might possibly increase. This is due to the fact that jeepneys are commonly used by merchants to transport goods to public markets.
The increase in the cost of diesel and petroleum products will also play a role in the increased cost of basic goods, which a lot of regular Filipinos won't be too happy about.
Money saving tips
In light of the recent fare hike, as well as the possible increase in the cost of goods, it's very important for parents to try and save as much money as they can, as well as to spend their money wisely.
Here are some helpful money saving tips:
- Make a list of your expenses, and try to assess which ones you can cut back on to save money.
- Practice the 30-day rule, which means that you have to wait 30 days before making a purchase so that you can decide for yourself if it's worth it.
- When going shopping, put everything you need to buy on a list, and make sure to stick to it!
- A good money saving tip is to actually spend more time outside. Instead of staying at home during weekends, you and your family can go to a nearby park to hang out and have fun. It's better than just staying at home and watching TV, and it's free!
- If you own a car, try to avoid using it everytime you go out. Commuting can be a bit of a hassle, but you'll save more money in the long run if you commute instead of drive, especially for short distances.
Source: news.abs-cbn.com, philstar.com, thesimpledollar.com
READ: 5 of the best ways to spend your hard-earned money
Be sure to check out theAsianparent Community for more insightful stories, questions, and answers from parents and experts alike. If you have any insights, questions or comments regarding the topic, please share them in our Comment box below. Like us on Facebook and follow us on Google+ to stay up-to-date on the latest from theAsianparent.com Philippines!