Due to growing fuel prices and the necessity to expand their GrabCar service, Grab Philippines is now proposing a Php 20 increase in its standard fare.
Grab Philippines’ senior director of strategy and operations, Ronald Roda, indicated that the firm has recently submitted a petition with the Land Transportation Franchising and Regulatory Board (LTFRB) to accommodate their price increase, and that the case will be heard on June 29.
As a result of rising gasoline prices, 10 to 20% of Grab drivers’ profits were decreased, according to Roda. He went on to say that Grab drivers on average have 10 rides each day and that a Php 20 rate increase would mean an extra Php 200 in their pockets for gasoline.
Roda also claimed that Grab had cut the fee it takes from drivers from 20% to as low as 12% in order to ease the load on them. Grab’s base rate for its 4-seater service is Php 40, and its 6-seater service is Php 50, with minimum fees ranging from P80 to P120 per journey.
Grab has also recently requested the LTFRB to open up more slots for Transport Network Vehicle Service (TNVS) applicants, with the LTFRB having since opened 8,000 extra spaces to the TNVS community, but Roda claiming that they are “currently being filled up very very slowly”