MANILA, Philippines – The Land Transportation Franchising Regulatory Board (LTFRB) has approved the petition of taxi owners to increase the flagdown rate from P30 to P40.

Transportation and Communication Undersecretary Dante Velasco said the LTFRB reviewed the petition and found it fair and reasonable since the last time an increase was granted was in 2004.

The LTFRB approved the petition on December 23.

Aside from the flagdown rate, succeeding charges to were also increased. This means that for every 300 meters, taxi passengers will now have to pay P3.50 from the previous P2.50.

Velasco said the taxi fare increase will take effect 15 days after the publication of the adjustment in major dailies.