DBM: P3K for farmers, P6.5K for drivers on fuel subsidy

ABS-CBN News

Posted at Mar 11 2022 04:14 PM

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MANILA—Public utility vehicle drivers and farmers are expected to receive P6,500 and P3,000 worth of fuel subsidy, respectively, as part of government's assistance amid rising oil prices, a budget official said Friday.

The Department of Budget and Management on Thursday released the P3-billion budget for fuel subsidy and discounts to help the transport and agricultural sectors cope with surging fuel costs.

Of the figure, P2.5 billion goes to the Department of Transportation’s fuel subsidy program while the remaining P500 million will be for the Department of Agriculture’s fuel discount program, DBM Acting Secretary Tina Rose Marie Canda said.

There are over 377,000 beneficiaries of DOTr's program, including drivers of jeepney, buses, tricycles, and delivery services, she told TeleRadyo.

Meanwhile, fuel discount cards, which will be issued in cooperation with the Development Bank of the Philippines, will be provided to farmers and fishermen who own agricultural or fishery machinery.

"'Yung downloading [ng pera] sa mga drivers [at farmers] ay 'yun po e responsibilidad ng DOTr at Department of Agriculture," Canda said.

This week, diesel prices rose over P5 per liter while gas prices increased by over P3 per liter as global crude oil benchmarks skyrocketed to over $100 per barrel due to the conflict between Russia and Ukraine.

The conflict is unlikely to be resolved soon, and the volatility in oil prices is likely to drag on.

Several PUV operators are petitioning for fare hike due to the continues increase in the prices of petroleum products.