The Land Transportation Franchising and Regulatory Board revealed the new taxi fare.
The LTFRB approved the Php 40 ‘flagdown rate’, an additional Php 3 per meter, and the additional Php 3.50 for every two minutes waiting time.
The LTFRB allowed the petition of taxi operators due to the price hike of petroleum products, the worsening traffic situation in Metro Manila, and the competition produced by the Transport Network Vehicle Services, including Grab and Uber.
However, the LTFRB did not reveal when the new taxi fare will be implemented.
Last March 2015, the LTFRB implemented the Php 30 flagdown rate, but was opposed by taxi drivers and operators due to the increasing prices of oil products and the worsening traffic.