LTFRB Cites Details on Releasing of Fuel Subsidy for Drivers
LTFRB – The Land Transportation Franchising and Regulatory Board spoke on the release of the fuel subsidy for drivers amid the oil price hike.
Currently, Filipinos are dealing with several challenges. Aside from the existing threats of the COVID-19 pandemic and the challenge to recover from its impacts, people are struggling to cope with the increasing prices of oil that affect almost everyone.
According to the Department of Energy (DOE), the high global demand for oil is one of the main reasons why the prices of oil continue taking an upward trend since January. The authorities even warned that the prices may continue to increase until May or June.
Following the series of oil price hikes, public utility vehicle (PUV) drivers are expressing their sentiments that they can hardly earn due to the high prices of fuel. Many of them claimed that they cannot anymore bring home a good amount that would at least meet their average needs.
The national government responded to the call of the drivers for assistance amid the oil price hikes. The Department of Budget and Management (DBM) confirmed that fuel subsidies will be released to some 377,000 drivers.
The beneficiaries of the P6,500.00 fuel subsidy each do not only include drivers of jeepneys but as well as buses, delivery services, and tricycles. Recently, the Land Transportation Franchising and Regulatory Board (LTFRB) spoke on the release of the said fuel subsidy.
Based on a report on ABS-CBN News, LTFRB Executive Director Maria Kristina Cassion said that the Department of Transportation (DOTr) was set to get the fund for the fuel subsidy Friday and it may be released to the drivers by next week.
Reportedly, the subsidy will be through fuel cards that drivers can be used in purchasing fuel amid the oil price hikes. More updates may be posted soon.
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