Fuel Subsidy worth P6,500 To Be Given to Drivers amid Oil Price Hikes

Update on Fuel Subsidy for Drivers amid the Increases on Oil Price

FUEL SUBSIDY – A fuel assistance amounting to P6,500.00 is set to be released to the drivers amid the series of oil price hikes.

The series of oil price increases affected a lot of people. Many drivers now complain that their usual budget for fuel no longer fits its current price thus they have to make additional spending. Both private individuals who own vehicles and public utility drivers are struggling amid the oil price increases.

It was starting January 2022 when the prices of fuel began going on an upward trend. Unfortunately, the price increase took place almost every week since the first month of the year. The authorities in the oil industry previously warned that the oil price hike may continue until May or June.

According to the authorities, the continuous increase in the prices of oil is due to the huge demand for oil across the globe. Some institutions have already pledged to help address the problem.

Amid the series of oil price hikes, the Philippine government is preparing fuel subsidy for the drivers of public utility vehicles (PUVs). Based on a report on ABS-CBN News, the fuel assistance is worth Php 6,500.00 for every driver.

The fuel subsidy targets to help 377,000 beneficiaries amid the series of oil price hikes. Based on the report, Budget and Management Undersecretary Rolando Toledo said that they are just finalizing the guidelines of the subsidy as they have expanded its beneficiaries. They have included the transport network vehicle services and the delivery riders.

Previously, some drivers called for the government to directly give the funds to fuel situations. However, Toledo explained that it will slow down the process. Thus, instead, the funds are in Landbank and the LTFRB will be the one that will issue the fuel vouchers or cash cards to the beneficiaries. More updates may be posted soon.