Government Prepares Fuel Subsidy Amid Rising Oil Prices
MANILA, Philippines — The government is moving swiftly to prepare a fuel subsidy for motorists amid the looming threat of an oil price hike caused by the ongoing conflict in the Middle East. Transportation officials emphasized that the fuel subsidy aims to help ease the burden on drivers and commuters during these uncertain times.
Transportation Assistant Secretary and spokesperson Mon Ilagan announced in a recent briefing that the final guidelines for the fuel subsidy program are being fast-tracked to ensure timely and efficient distribution once the need arises. “We are expediting the finalization of the fuel subsidy guidelines to make sure the aid reaches those who need it,” he explained.
The P2.5-billion fuel subsidy program has already been certified by the Department of Energy, allowing the Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB) to prepare for its rollout. Ilagan assured the public that all involved agencies are on standby, acting under the direct orders of President Bongbong Marcos Jr.
Subsidy Targets Public Utility Vehicles
Qualified public utility vehicle drivers and operators will be included in a list that will undergo verification and certification by regional directors. This process ensures that the subsidy benefits those directly affected by rising fuel costs.
In line with the fuel subsidy program, Secretary Vince Dizon has instructed the LTFRB to maintain the current fare rates to protect commuters from additional financial strain. “Secretary Dizon already gave instructions to the LTFRB last week that there should be no fare increase for now so that our commuters won’t be affected,” Ilagan said. “We are prioritizing the release of the fuel subsidy as per the Secretary’s directive.”
Potential Domino Effect of Middle East Conflict
Palace Press Officer Claire Castro also issued a cautionary statement about the wider impact of the conflict between Iran and Israel. She warned that the unrest could trigger a domino effect beyond just rising oil prices.
“This will have a domino effect because even if our drivers receive fuel subsidies for the benefit of commuters, it’s inevitable that the impact will also be felt in logistics and trading,” Castro remarked in Filipino.
She added, “So, that is what we are praying for—that we can avoid this and find a proper solution so that our fellow Filipinos will not have to bear too much hardship due to the ongoing tension between Israel and Iran.”
Government to Discuss Economic Response
President Ferdinand Marcos Jr. is scheduled to meet with his economic team soon to discuss the government’s response to the challenges posed by the Middle East crisis. Officials remain vigilant, working to mitigate the effects on the Filipino people.
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