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DOTr eyes release of fuel subsidy once big-time oil price hike takes effect
The Department of Transportation (DOTr) is preparing to distribute a P2.5 billion fuel subsidy to mitigate the impact of an anticipated significant increase in oil prices.
DOTr Secretary Vince Dizon confirmed the fund from the 2025 budget is ready for disbursement.
The agency aims to immediately provide assistance to transport workers once the fuel price hike takes effect.
DOTr spokesperson Mon Ilagan stated that the fuel subsidy will be released through the Land Transportation Franchising and Regulatory Board (LTFRB), with guidelines currently being finalized.
The DOTr is also collaborating with the Department of the Interior and Local Government (DILG) for the database of tricycle drivers and the Department of Information and Communications Technology (DICT) for delivery riders.
Ilagan emphasized that the subsidy should be automatically released as soon as the price hike takes effect to immediately help affected sectors.
The Department of Energy (DOE) forecasts a potential P5 per liter increase in diesel prices, attributed to the escalating conflict between Israel and Iran.
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The Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB) are preparing to distribute fuel subsidies to public utility vehicle (PUV) drivers and operators.
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The Philippine government is expediting efforts to roll out fuel subsidies totaling P3.1 billion to shield public utility drivers (PUVs), farmers, and fisherfolk from the impact of soaring fuel prices amidst rising tensions in the Middle East.
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President Ferdinand Marcos Jr. confirmed the government is preparing fuel subsidies for public utility vehicle (PUV) drivers and other sectors potentially affected by oil price hikes due to escalating Middle East tensions.
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