On Wednesday, the Land Transportation Franchising and Regulatory Board (LTFRB) announced its intention to allocate fuel subsidies to drivers and operators of public utility vehicles (PUVs) by the conclusion of the current month.
During a public briefing, Joel Bolano, Chief of the Technical Division at LTFRB, revealed that both the Department of Transportation (DOTr) and the LTFRB are currently in anticipation of funds for the fuel subsidy initiative.
“Ang target ng Department at ng LTFRB ay ma-implement fuel subsidy program para sa mga public utility vehicle operators and drivers hopefully before the end of August or within August ay ma-implement na ito basta ma-download na ang budget coming from the DBM (Department of Budget and Management),” he said.
The LTFRB previously announced that approximately P3 billion had been allocated for the fuel subsidy program, which will be provided as call cards for utilization at designated gasoline stations by PUV drivers.
Each modern jeepney and UV Express unit is set to receive about P10,000, while drivers of traditional jeepneys will be granted P6,500.
For motorcycle taxis and delivery service riders, an amount of P1,200 will be distributed through an e-wallet. Tricycle drivers, on the other hand, will individually receive P1,000, and this distribution will be facilitated by the local government unit under which they are registered.
LTFRB to distribute fuel subsidies
Various transport organizations have previously appealed for the prompt disbursement of the fuel subsidy to mitigate the repercussions of consecutive oil price increases.
Earlier, LTFRB declined the suggested P1 “surge fee” put forth by certain transportation associations to respond to the increasing fuel costs.
The Department of Energy (DOE) has confirmed another price surge scheduled for Tuesday, August 15th — marking the third price increase this month. This adjustment is attributed to the concerted efforts of Saudi Arabia and Russia to curtail output targets.
Diesel prices are set to rise by P1.50 per liter, gasoline will increase by P1.90 per liter, and kerosene prices will climb by P2.50 per liter.
PISTON, a transport organization, believes that the ultimate resolution to the escalating fuel costs lies in abolishing the oil deregulation law. A pertinent bill addressing this matter has already been introduced in Congress.
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