MANILA -- The Land Transportation Franchising and Regulatory Board started recalibrating taxi meters on Tuesday, paving the way for higher fares that were approved in October last year.

Under the new fares, taxis can charge P13.50 per kilometer and P2 per minute on top of the P40 flagdown rate.

A sample computation by ABS-CBN News showed that a 5-minute long, 1.7-kilometer ride will cost P78.50 based on new fares, from P63.50 using the old scheme.

Booking fees by taxi-hailing apps were excluded from the sample computation.

• LTFRB to recalibrate 29,000 taxi meters for fare adjustments

LOOK: Sample computation of taxi fares for a 5min 3km ride. Rider will pay P78.50 under OLD fare matrix, while P90.50 for NEW fare rate. pic.twitter.com/ojcB2oOohC

— Jacque Manabat (@jacquemanabat) July 31, 2018

Taxis can recalibrate their meters even without the required dashboard cameras as long as the devices are installed within 2 months, the LTFRB said.

A new fare matrix for ride-hailing services, which will be slightly higher than taxis, will also be released, the LTFRB said.

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