The government is fully prepared to assist over 1.1 million bus, jeepney, tricycle, and ride-hailing application drivers if global oil prices surpass the US$80 per barrel threshold amid the Israel-Iran conflict.
In a Palace press briefing on Thursday, Department of Transportation (DOTr) Secretary Vince Dizon said President Ferdinand R. Marcos Jr.’s administration is fully prepared to implement the Fuel Subsidy Program (FSP) for transport, in accordance with the 2025 General Appropriations Act (GAA).
Dizon said a total of PhP2.5 billion has been earmarked under the 2025 GAA for the FSP, while an additional PhP617 million remains available from the 2024 budget.
“Ito pong pondong ito ay pinahanda ng ating Pangulo para immediately natin itong ma-distribute at ma-disburse ayon sa guidelines na nakapaloob sa 2025 budget,” Dizon said.
“Ang sinabi ng ating Pangulo, klarong-klaro — dapat mag-ready tayong lahat kapag nangyari ito. Dapat mabilis nating ma-distribute ang ating pondo para sa ating mga transport sector members,” he added.
The program will benefit an estimated 1,132,407 individuals, including 258,712 Public Utility Vehicle (PUV) operators and drivers, 723,695 tricycle drivers, and 150,000 ride-hailing application drivers.
The subsidy will be disbursed through multiple channels to ensure fast and efficient distribution, such as existing Pantawid Pasada or fuel cards, registered e-wallets (GCash and Maya), bank-to-bank transfers, and cash distribution through the Land Bank of the Philippines.
As of today, oil prices have reached US$78 per barrel, just below the required threshold.
Dizon said the government continues to monitor global prices closely and will act promptly should the US$80 mark be breached.
President Marcos earlier stated that there was no need to implement the FSP yet, as global oil prices have not increased.
Despite this, President Marcos assured the public that the government is ready to protect the livelihood of transport workers and ensure they receive timely support in the face of rising fuel costs due to the conflict between Israel and Iran. | PND
