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Senator urges swift aid if Dubai crude hits $80 amid Middle East conflict
Senator Sherwin Gatchalian is urging the swift implementation of fuel subsidies if Dubai crude oil prices breach the USD80 per barrel mark, driven by the ongoing Israel-Iran conflict.
The average price of Dubai crude reached USD74.04 per barrel from June 16 to 18, indicating a continued upward trend in oil prices.
Gatchalian emphasized the importance of activating fuel aid provisions under the 2025 General Appropriations Act to mitigate the impact of escalating prices.
The government has allocated PHP2.5 billion for fuel subsidies to support public utility vehicle drivers, taxi operators, tricycle drivers, and full-time drivers in the ride-hailing and delivery sectors.
An additional PHP150 million is designated for the Department of Agriculture to provide support to farmers and fisherfolk.
The senator stressed the need for rapid deployment of these assistance programs to cushion vulnerable sectors from price shocks.
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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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The Philippine government is prepared to release fuel subsidies to over 1.1 million public transport drivers if global crude oil prices exceed $80 per barrel due to the ongoing Israel-Iran conflict.
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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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The Philippine government is actively preparing to cushion the blow of potential oil and fertilizer price increases stemming from the escalating Middle East crisis.
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The Philippine government is prepared to provide fuel subsidies to public utility vehicle (PUV) drivers, farmers, and fisherfolk should global crude oil prices surge.
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