Jeepney fares have been rolled back by 50 centavos nationwide, with the  fare in Western Visayas down to P7.50, effective today, LTFRB Board Member Manuel Iway said last night.

The rollback automatically takes  effect at midnight of Monday, Iway told the DAILY STAR.

When the price of diesel was P49 per liter the  LTFRB granted a provisional fare increase on March 20 that brought the fare in Western Visayas up to P8.

 However,  the ruling on the provisional increase of  50  centavos then  stated that if diesel prices  fall to P45 a liter, the minimum fare will revert back to the level before March 20, he added.

He said diesel prices in Metro Manila were down to P44  per liter yesterday.

Oil firms  rolled back the prices on their petroleum products effective yesterday to reflect the softening of prices in the international market amid charges from transport leaders that it was not enough.

Petron Corp. and Chevron Philippines (formerly Caltex)  shed P1.70 in the price per liter of premium gasoline (including unleaded), P1.60 per liter on both regular gasoline and diesel and P1.50 per liter on kerosene.

Total Philippines implemented similar price rollbacks, minus that of kerosene.

Pilipinas Shell rolled back its prices on premium gasoline by P1.70 per liter, regular and kerosene by P1.50 per liter and diesel by P1.60 per liter.*CPG

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