MANILA — Finance Secretary Benjamin Diokno on Wednesday said public transport drivers will still receive fuel subsidies but the second tranche will be more "targetted."
Diokno said they were already ramping up the distribution of the P6,500 fuel subsidy for public utility drivers and complete it by this week.
Only drivers "most affected" by the rising fuel prices would receive the second tranche, also worth P6,500. The fund for this will be sourced from windfall taxes on fuel, he added.
"Now, considering that oil prices are expected to remain elevated in the new term, the government will expedite the release of the second tranche of subsidies for the transport sector... President Marcos will continue the fuel subsidy that was put in place by the former President Duterte," Diokno told reporters in a Palace briefing.
"Naka-set naman iyong specific tax on petroleum products... Iyong pagtaas ng presyo ng gasolina, ibabalik natin sa taumbayan in the form of targeted subsidy. Hindi lahat makakakuha but iyong mas apektado, sila ang makakakuha nito," he added.
On Tuesday, Marcos said he wanted to include tricycle drivers in the fuel subsidy program, claiming that drivers of 3-wheeled vehicles "up to now have not yet been included" in the program.
Last week, the Department of the Interior and Local Government said that at least 60,000 tricycle drivers were set to receive their fuel cash subsidy under the "Pantawid Pasada Program for Tricycle Drivers" in the coming months.
The President also assured the public that there are enough funds to keep the country's fuel subsidy program.
Diesel and kerosene prices went down by P3 and P3.40 respectively on Tuesday.
The cost of diesel, however, went up by P26.80 in the past 5 weeks because of unabated oil price hikes.
Video from PCOO