Philippines' Marcos puts brakes on transport fare hike

Manila: Philippine President Ferdinand Marcos on Wednesday put the brakes on a public transportation fare hike announced just a day earlier, promising...

Manila: Philippine President Ferdinand Marcos on Wednesday put the brakes on a public transportation fare hike announced just a day earlier, promising the country's commuters free rides instead.

The archipelago nation, which imports nearly all of its crude oil from the Middle East, has been scrambling to deal with eye-watering price increases triggered by the US-Israeli war with Iran.

Since hostilities erupted, the Philippines has instituted a four-day workweek for civil servants, distributed cash handouts to tricycle drivers, and seen its sole refinery open discussions to buy Russian oil.

On Tuesday, the country's transportation regulator announced fare hikes across an array of public transport, with rides in jeepneys, used by millions of Filipinos every day, set to jump about eight percent.

"In my opinion ... now is probably not the time to raise fares for the people," Marcos said Wednesday in walking back the increase, citing the ongoing Middle East war.