By Benjamin Cuaresma
MANILA — Public utility vehicle (PUV) drivers will receive a bigger fuel subsidy beginning August 15, after the government approved an increase in the fuel discount from P10 to P12 per liter to help cushion the impact of volatile global oil prices on the transport sector.
The Office of the Executive Secretary announced Wednesday that the enhanced subsidy was approved during Tuesday’s Cabinet meeting in Malacañang, where government officials reviewed measures to mitigate the effects of rising fuel costs and inflation on vulnerable sectors.
Under the revised program, eligible public utility jeepney and UV Express drivers could save up to P1,800 per week, depending on their fuel consumption.
The increase comes amid continued uncertainty in global energy markets, with the government citing geopolitical tensions in the Middle East as a major factor driving fluctuations in international oil prices.
Despite the adjustment, the approved subsidy remains below the P20-per-liter fuel assistance earlier proposed by the Land Transportation Franchising and Regulatory Board (LTFRB), which had sought greater relief for transport operators grappling with rising operating expenses.
Government data showed that more than 93,000 PUV drivers have already benefited from the fuel discount program since its rollout in April.
While pump prices have eased in recent weeks, the Department of Energy (DOE) has warned that oil prices could remain unstable due to developments in the global market.
For the pricing period from August 4 to 10, gasoline prices declined by P0.73 per liter, diesel by P0.60 per liter, and kerosene by P2.09 per liter. However, liquefied petroleum gas (LPG) prices increased by P3.67 per kilogram, partially offsetting the gains from lower fuel costs.
Beyond the transport sector, the Cabinet also directed the Department of Social Welfare and Development (DSWD) to continue implementing the Unified Package for Livelihoods, Industry, Food and Transport (UPLIFT) program to assist other sectors affected by rising prices, including farmers, fisherfolk, construction workers and other vulnerable groups.
Executive Secretary Ralph G. Recto said the government remains committed to extending assistance to Filipinos facing the economic effects of the ongoing unrest in the Middle East.
He emphasized that government intervention must continue to ensure that affected sectors receive timely support while efforts are intensified to protect consumers from inflation and prevent unwarranted increases in the prices of essential goods.
Cabinet officials also discussed additional measures to safeguard the economy against inflationary pressures and maintain price stability as authorities continue to monitor developments in the global oil market.
ia/xf
