DBM releases P3 billion for fuel subsidy, discount

Pia Gutierrez, ABS-CBN News

Posted at Mar 10 2022 06:23 PM

MANILA - The Department of Budget and Management (DBM) has released the P3-billion budget for fuel subsidy and discounts to the Department of Transportation (DOTr) on Thursday afternoon, a budget official confirmed. 

“We released the amount this afternoon. We received the [joint memorandum circular] required yesterday,” Acting Budget Secretary Tina Rose Canda said in a text message, referring to a Joint Memorandum Agreement among the DBM, energy department and the Department of Transportation.

"We also released the P500 million fuel discount for the agri sector this PM,” Canda added.

This comes after President Rodrigo Duterte approved the recommendation to distribute fuel subsidy and discount vouchers to public transport workers, farmers, and fisherfolk to help cushion the effect of rising fuel prices due to the Ukraine-Russia crisis.

Gas prices rose by P3, while diesel prices by P5 on Tuesday, hitting struggling PUV drivers who are lobbying for fare hikes. 

WATCH

Watch more News on iWantTFC