The Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB) are speeding up the preparation of documents needed to release fuel subsidies to public utility vehicle (PUV) operators and drivers as global oil prices near $80 per barrel.
The move follows the directive of Ferdinand Marcos Jr. to make sure government assistance is ready amid tensions in the Middle East that could push fuel prices higher.
Transportation Secretary Giovanni Lopez said the agencies are now processing the required paperwork so the P2.5-billion fuel subsidy can be released immediately once crude oil prices hit the $80 per barrel threshold.
Lopez explained that by completing the documentation early, authorities will only need to distribute the funds once the trigger price is reached. This is meant to avoid delays and ensure faster assistance to affected drivers and operators.
At the same time, the LTFRB is also reviewing pending petitions for a fare increase for PUVs. Lopez noted that discussions on possible fare adjustments were already underway even before the recent developments in the Middle East.
The fuel subsidy program aims to cushion the impact of rising oil prices on transport workers and help prevent sudden fare increases that would affect commuters.
