Tricycle and pedicab fares are set quite variably depending on the service areas and those regulating the services. In many cases, it is the pedicab association comprised of drivers-operators who set the fares, which are then supposed to be approved by local officials like those in the barangay or municipal/city hall. I say “supposed” here since most rates are not formally regulated in the manner like how the Land Transportation Franchising and Regulatory Board (LTFRB) sets fares for buses, jeepneys and taxis. While the principles of “willingness to pay” is applied to some extent, pedicab and tricycle fares are usually imposed (to use a strong word) by tricycle and pedicab associations with very rough estimates of operating costs or, in the case of NMTs, the equivalent of physical effort, required to convey people.
In residential subdivisions or villages, associations may have a say in the fare rates. Where I live, the association sets the standard rates and these go to the extent of differentiating between day time and night time rates. There is even a rate for when streets are flooded! There is also a definition for regular and special trips and rates are according to the general distance traveled by pedicab. That is, fares to Phase 2 are generally higher than those for Phases 1 and 3 because Phase 2 streets are generally farther from the reference origin/destination, which is the village gate. Given the effort of pedicab drivers to transport passengers, I think the rates are just right. The only part there that seems unusual is the rate of PhP 1/minute for waiting time, which to me seems to high. Nevertheless, there is nothing to stop passengers from showing their appreciation for hard work in the form of tips. And there is no limit to the generosity of some passengers who choose to pay more to the (pedi)cabbie.
Tariff sheet displayed inside the sidecar of every pedicab of our village. The information is useful especially to guests or visitors who are not familiar with pedicab rates in the area.