Philstar
Government ready to roll out P2.5 billion fuel subsidy
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.
Transportation Secretary Vince Dizon stated that the Marcos administration has allocated P2.5 billion from the 2025 General Appropriations Act and P617 million from the 2024 budget for the Fuel Subsidy Program (FSP).
The FSP is designed to benefit an estimated 1,132,407 individuals, comprising public utility vehicle (PUV) operators and drivers, tricycle drivers, and ride-hailing application drivers.
Disbursement of the fuel subsidy will utilize various channels, including existing Pantawid Pasada or fuel cards, registered e-wallets like GCash and Maya, bank transfers, and cash distribution via the Land Bank of the Philippines, to ensure swift and efficient delivery.
Currently, crude oil prices are hovering around $78 per barrel, which is below the threshold that triggers the release of the subsidies.
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