MEMBERS of the Confederation of Truckers Association of the Philippines (CTAP) have approved the proposed 20% increase in trucking rates to offset recent hikes in operating costs.

The new rate will likely take effect today (January 12) pending distribution of the final matrix to members.

"We have no choice considering the recent spikes in labor, fuel and, most recently, toll fees in almost all major toll roads north and south of Manila," CTAP president Ruperto Bayocot told PortCalls.

As of this writing, the price of diesel is at an average P38.80 per liter and will likely increase due to high demand resulting from the harsh cold spell in the northern hemisphere.

The prices of truck tires and spare parts have also jumped significantly.

In addition, toll rates at the North Luzon Expressway grew 12% since the start of the year. Rates at the South Luzon Expressway jumped more than 300% but as a goodwill gesture, the expressway's operator is extending a 20% discount until end of March.

Earlier, CTAP imposed P1,000 fuel surcharge on all incoming and outgoing cargoes at the South Harbor and the Manila International Container Terminal because of port congestion.

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