The government is preparing the guidelines for the distribution of fuel subsidies to sectors that could be negatively impacted by possible disruptions in oil supply due to the escalating tensions between Israel and Iran, Department of Transportation (DOTr) Secretary Vince Dizon said Saturday.
Speaking to reporters, Dizon said the government has allocated P2.5 billion for fuel subsidies.
“May tulong na galing sa gobyerno. Nakaauthorize na ‘yan, pineprepare na yung guidelines para makuha nila agad-agad. P2.5 billion ang available sa atin ngayon. Malaki-laki ang hawak natin. Matatanggap nila yan,” he said.
(There is help from the government. It has already been authorized, and guidelines are already being prepared to release it right away. There is P2.5 billion available for us currently. We have a big amount. They will receive it.)
”Nananawagan ako sa mga operator natin, mga transport group, huwag naman [magprotesta]. May tutulong na parating, inutos ng Pangulo natin na immediately, ilabas ang fuel subsidy,” he added.
(I appeal to the operators and transport groups not to stage protests. Help is on the way, as our President directed that the fuel subsidy be released immediately.)
On Wednesday, President Ferdinand Marcos Jr. assured the public that fuel subsidies would be in place as oil prices were set to increase due to the Israel-Iran conflict.
Oil prices could rise by P2.50 to P4.80 next week, according to the Department of Energy’s forecast, as the “Israel-Iran conflict threatens critical global shipping passage.”
Fuel firms announce official price movements every Monday, to be implemented the following day. — Jiselle Anne Casucian/VBL, GMA Integrated News
