MANILA, Philippines - Taxi drivers are seeking a P10-increase in flagdown rates and a P0.50 hike per succeeding 200 meters.

The Philippine National Taxi Operators Association (PNTOA) has proposed the new rates to the Land Transportation Franchising and Regulatory Board (LTFRB).

The drivers sought the rate increase following the recent oil price hikes.

Earlier, oil companies have announced possible price hikes in the coming weeks following upticks in oil prices in the world market.

The enegy department says so far, retailers were able to justify all of their price adjustments this year. -- ANC