Fresh fuel price hike sparks urgent subsidy calls
MANILA, Philippines — Senator Grace Poe urged the government on Monday to accelerate the distribution of subsidies for drivers, farmers, and fisherfolk affected by the fresh fuel price hike. The rising costs stem from ongoing tensions linked to the Israel-Iran conflict.
“Price hikes hit hard and fast; government intervention might be just as quick,” Poe, chairperson of the Senate finance panel, stated. She emphasized the need for timely assistance to those most vulnerable to the fuel cost surge.
“We trust that the amount to be released per beneficiary will be reasonable to help cushion the impact of oil prices,” she added.
Projected fuel price increases and budget allocations
Energy officials and a major petroleum company estimate gasoline prices could rise by Php 3.20 to Php 3.40 per liter. Diesel prices, meanwhile, may climb sharply by Php 4.90 to Php 5.10 per liter due to the Middle East crisis. These projected increases highlight the urgency for government support.
Senator Poe pointed out that the 2025 national budget allocates Php 2.5 billion in subsidies aimed at drivers operating public utility vehicles, taxis, ride-hailing services, and delivery platforms. She stressed that this funding warrants prompt action to assist these groups.
Additionally, Php 585 million has been earmarked for the Department of Agriculture to aid farmers and fisherfolk facing the brunt of the price surge. Poe underscored that swift aid delivery is critical to mitigate economic strain on these sectors.
Streamlining aid to ease impact
The senator called on relevant agencies to fast-track necessary documentation and avoid delays in subsidy distribution. “Agencies must expedite the paperwork to ensure that help reaches beneficiaries without unnecessary holdups,” she urged.
This proactive approach aims to soften the blow of the fuel price hike on everyday Filipinos who rely heavily on fuel for their livelihood.
For more news and updates on fresh fuel price hike, visit Filipinokami.com.