In a telephone interview with PortCalls, CTAP president Rodolfo T. De Ocampo confirmed the group's plan, prompted primarily by the continuous increase in fuel prices.De Ocampo
noted that the price of diesel has, in the recent past, gone up 46% from P13 to P19 per liter.
"Our businesses have been heavily affected by the fuel price increase.It has been a long time since we last hiked our rates.We cannot bear the cost any longer," he
complained, adding that fuel normally comprises 40% of a trucker's overhead cost.CTAP member companies account for 40% of the local trucking industry.
In addition, De Ocampo
said rates had to be revised because of higher prices of spare parts, tires, batteries and lubrication oil due to the peso depreciation, and the truck ban and regulatory fee/road users' tax imposed by various local government units.
Next week's hike is also in response to higher fees expected to be imposed by tollway companies.The Metro Manila Toll Corp.
, for one, is jacking up its fees by October.De Ocampo
said that as it is, all other modes of transportation have already firmed up plans to increase their rates.