Government to Provide Fuel Subsidy for Public Transport Drivers at $80/barrel - Vince Dizon

Transportation Secretary Vince Dizon announced that the government is prepared to provide fuel subsidies to over 1.1 million bus, jeepney, tricycle, and ride-hailing drivers once global crude oil prices exceed $80 per barrel due to the Israel-Iran conflict.

During a Palace press briefing, Dizon mentioned that the Marcos administration is set to implement the Fuel Subsidy Program (FSP) for the public transport sector as outlined in the 2025 General Appropriations Act (GAA).

A budget of P2.5 billion from the 2025 GAA and an additional P617 million from the 2024 budget have been allocated for the FSP, benefiting around 1,132,407 individuals, including PUV operators, tricycle drivers, and ride-hailing drivers.

The fuel subsidy will be distributed through various channels like Pantawid Pasada cards, e-wallets, bank transfers, and cash distribution via the Land Bank of the Philippines to ensure efficient delivery.

Despite crude oil prices hovering around $78 per barrel, which is below the required threshold, the government is closely monitoring global prices and will take action once the $80 mark is surpassed, according to Dizon.

President Ferdinand Marcos Jr. stated that the FSP is not yet necessary but assured support for transport workers facing increased fuel costs due to the Israel-Iran conflict.

Department of Energy officer-in-charge Sharon Garin indicated that the fuel subsidy program may not be activated until crude oil prices breach the $80 per barrel threshold.

According to the source: GMA Network.