DBM releases P3 billion fuel subsidy

MANILA — The Department of Budget and Management on Friday approved the release of P3 billion in fuel subsidies to provide relief to transport workers amid recent hikes in oil prices.

Approximately 1.36 million transport workers will receive one-time subsidies, with the amounts varying based on the mode of transportation, according to the DBM.

Around P10,000 has been allocated for operators of modernized public utility jeepneys (MPUJ) and modernized utility vehicle express (MUVE). 

Those utilizing traditional PUJs, traditional UVs, public utility buses, minibuses, taxis, shuttle services taxis, transport network vehicle services, tourist transport services, school transport services, and filcabs will receive P6,500 each. 

For delivery service operators, the subsidy is P1,200, while tricycle operators will receive P1,000.

Landbank of the Philippines (LBP) will distribute the subsidies upon receipt of the Land Transportation Franchising and Regulatory Board (LTFRB)’s instructions, mechanics and agreed schedule, the DBM said in a statement.

Based on data from the LTFRB, around 280,000 PUV drivers will get the one-time cash grant from the agency, while 930,000 tricycle drivers and 150,000 delivery service riders will receive assistance from the Department of the Interior and Local Government and the Department of Information and Communications Technology.

Budget Secretary Amenah Pangandaman’s approval came after the DBM received an official letter of request from the Department of Transportation (DOTr) for the Fuel Subsidy Program.

Oil companies have raised fuel prices for nine consecutive weeks, with the latest data from the Department of Energy’s price monitoring reveals substantial increases, with gasoline prices rising by P14.80 per liter year-to-date, diesel by P9.50 per liter, and kerosene by P6.64 per liter. (philstar)