The Land Transportation Franchising and Regulatory Board (LTFRB) has directed transport network company Grab Philippines to explain its alleged “price surge” and the P85 minimum base fare for short trips it charges, which is not yet authorized by the agency.
The Land Transportation Franchising and Regulatory Board has directed transport network company Grab Philippines to explain its alleged “price surge” and the P85 minimum base fare for short trips it charges, which is not yet authorized by the agency.
Under the fare matrix approved by the LTFRB in September 2022, the minimum fare for a Sedan-type transport network vehicle service is P45; P55 for AUV/SUV-type TNVS; and P35 for hatchback-type TNVS.“There will be no more hearing on this issue. We have already asked them to submit their position paper and that’s when we will come up with a decision,” LTFRB Chairman Teofilo Guadiz III said.“What we intend to do now is to put up parameters... that only one entity can set the pricing.
The company, however, maintained that its “dynamic pricing” is aligned with the pricing matrix set by the LTFRB for TNVS. The algorithm, the company explained, is a key feature of its platform since its inception, describing it as a transport innovation that allows it “to offer reliable mobility options to passengers while ensuring that the fare benefits both consumers and our driver-partners.”
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