Philippine Gov't Prepares Fuel Subsidies for PUV Drivers, Farmers, and Fisherfolk

The Philippine government is expediting efforts to roll out fuel subsidies to shield public utility drivers (PUVs), farmers, and fisherfolk from the impact of soaring fuel prices amid rising tensions in the Middle East. Department of Energy (DOE) Officer-in-Charge Sharon Garin said the government is coordinating with relevant agencies to finalize the distribution of the subsidy programs. President Ferdinand R. Marcos Jr. met with his economic team to assess the potential effect of the Iran-Israel conflict on local fuel supply and prices. A total of PHP2.5 billion has been earmarked for PUV drivers and operators, while PHP600 million is allocated for farmers and fisherfolk. The DOTr has completed the identification of beneficiaries and is preparing to release the funds as soon as it receives the go-signal. Despite ongoing uncertainty, the President's primary concern remains the well-being of ordinary Filipinos. Oil companies have announced fuel price hikes of up to PHP5.20 per liter this week, citing rising global prices influenced by the worsening conflict and the United States' growing involvement. The Middle East remains a key source of oil for the Philippines, making any geopolitical instability in the region a critical threat to domestic energy security and economic stability.

According to the source: Philippine News Agency.