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Marcos seeks shorter trigger period for fuel subsidy release

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President Marcos wants to amend the budget bill provision on fuel subsidy 'in order to shorten the trigger period from three months to one month,' says Energy Secretary Raphael Lotilla

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MANILA, Philippines – President Ferdinand Marcos Jr. wants to expedite and simplify the release of fuel subsidy to public utility vehicle operators, and has asked Congress to introduce the amendment in the proposed 2024 budget. Under current rules, the Department of Budget and Management’s fuel subsidy project takes effect when the average Dubai crude oil price for three months surpasses $80 per barrel.

“The guidelines will need only to be agreed upon by the DBM, Department of Transportation, and the DOE, and these can be released upon the finalization of the list of beneficiaries by the DOTr for those which have franchises, and then by the Department of the Interior and Local Government for those tricycle drivers, and by the Department of Trade and Industry for delivery service drivers,” he added.Around 1.

 

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