Courtesy: Gogetfunding
PRESIDENT Ferdinand “Bongbong” Marcos Jr. announced on Thursday a P10 per liter fuel subsidy for public utility vehicles (PUVs) aimed at alleviating the financial strain on drivers and operators grappling with escalating fuel prices due to the Middle East crisis.
In a video message, the President detailed that this subsidy will be capped at 150 liters per week and will be implemented for a period of three months, initially focusing on Metro Manila before a nationwide rollout.
The fuel subsidy program is set to commence next week, starting in Commonwealth, Quezon City, and will gradually expand to other key areas such as Quezon Avenue, España, Zapote, A. Bonifacio, Rizal, and Marcos Highway.
This phased implementation aims to ensure a smooth rollout before extending the program to the entire country. President Marcos emphasized that this initiative is crucial not only for supporting PUV operators but also for preventing a ripple effect that could lead to increased prices of basic goods and commodities.
To ensure the subsidy reaches its intended beneficiaries and is not subject to abuse, President Marcos specified that it will only be applicable at legitimate gasoline stations approved and monitored by the Department of Energy.
This oversight mechanism is designed to guarantee that the fuel subsidy is utilized correctly and effectively supports the PUV sector. The announcement comes in the wake of a two-week ceasefire between the United States and Iran, a development that has led to projections of a slight easing of fuel prices, though the long-term impact remains uncertain.
This P10 per liter fuel subsidy represents a significant intervention by the Marcos Jr. administration to mitigate the economic repercussions of the Middle East conflict on a vital sector of the Philippine economy.
By providing direct financial relief to PUV drivers and operators, the government seeks to maintain the affordability of public transportation and stabilize the prices of essential goods, thereby cushioning the impact of global oil price volatility on the daily lives of Filipinos.
