MANILA, Dec. 5 -- The Land Transportation Franchising and Regulatory Board (LTFRB) on Friday announced there will be no fare hike for traditional and modern jeepneys after a big-time oil price rollback lowered diesel prices.

Transportation groups are seeking a PHP1 to PHP2 fare hike from the current PHP13 minimum fare for traditional jeepneys and the PHP15 minimum fare for modern jeepneys.

In a statement, Acting Transportation Secretary Giovanni Lopez said it was not the right time for a fare hike.

"Malaki ang magiging epekto ng taas pasahe sa ekonomiya at sa pangkalahatan, lalo na't bumabangon pa lang ang ilang probinsyang nasalanta mula sa matinding kalamidad tulad ng nakaraang lindol at bagyo (A fare hike will have a big impact in t...