The flagdown rate for taxi is now back to P40. This after the Land Transportation Franchising and Regulatory Board (LTFRB) issued an advisory following the approval of the provisional increase.
Shown below is the official press release. The new rate covers all taxi services NATIONWIDE, except Cordillera Administrative Region (CAR). Meanwhile, there is no increase of rates for the succeeding meter/s and waiting time which means all taxicabs will still charge P3.50 for every first 500 meters, every succeeding 500 meters and during waiting time for every 90 seconds.
It can be recalled that the flagdown rate for taxis was reduced to P30 last March 19, 2016 after fuel prices fell worldwide (LINK). Taxi meters however were not re-calibrated. Commuters will just pay P10 less than what the meter reads.
The LTFRB approved the petition for rate hike amid continuous rise in oil prices in the world market.