JEEPNEY passengers will pay 50 centavos less after the Land Transportation Franchising and Regulatory Board (LTFRB) approved an “additional provisional reduction” in Central Visayas yesterday.

The jeepney fare is now down to P6.50 for the first five kilometers.

Senior citizens and students will still be able to avail of a 20 percent discount.

The reduction was in response to the petition filed last year by former Cebu City councilor Augustus Pe Jr., who asked for a 50-centavo rollback due to the sustained drop in oil prices.

“The spate of reduction has resulted in further lowering the price of diesel fuel within the range of P19.72 to P2.40 significantly lower vis-a-vis the levels during the December 2014 and January 2015 periods,” the order reads.

The board also sought recommendations from the National Economic and Development Authority (NEDA) on the economic impact of the fare reduction.

“I hope that this will benefit the riding public. The recommendation of this fare adjustment also came from the regional office after several consultations. This will be effective upon publication in a newspaper of general circulation,” LTFRB board member Antonio Enrile Inton said.

Since it is only a provisional order, there is no need for a fare matrix, he said.

Inton said public utility vehicle (PUV) drivers should give the exact change to their passengers once the fare reduction takes effect.

“It will be overcharging if they won’t give exact change to their passengers. Operators will pay P5,000 under Joint Administrative Order (JAO) 2014-01,” he added.