Starting today, February 2, 2011, a new fare hike has been implemented for Public Utility Jeepneys all accross the continent. The move was done in reaction to the continuous price hikes in gasoline. That means as of today, the minimum fare in Metro Manila and the Luzon areas would be 8 PHP, up by 1 peso from the previous fare. Senior citizens and students will continue to grab 1 peso discounts thus making their fare at 7 PHP.
For me, the timing is just right as if they don't approve this hike the drivers of the passenger jeepneys will be the one most affected. The continuous oil price hikes have affected them in a big way already. While some of the people might contest the hike, I think it is just right.
Now this solves the issue of drivers as of the moment but it's not a long time solution. Maybe we should really check back our laws with regards oil price regulation. Ever since twe have them deregulated, the prices have gone up without any control. I guess that's the one that's gonna solve the problem for a longer period of time. Our local laws on oil regulation should be revisited. I know this won't be the most popular of decisions for the government to take as there would be violent reactions from the oil industry. But I guess what needs to be weighed is who will benefit more. I know it would be a daunting task to solve this issue but they need to start on something otherwise this would be an ongoing problem.
We can't afford yet another 1 peso hike. If that happens, then the regular pinoy would definitely react. My 8 peso is still good but until when.