The Land Transportation Franchising and Regulatory Board has pushed back the release of fuel subsidy funds for drivers and operators of public transport to September.
The LTFRB blamed the delayed filing of papers needed for the release of fuel subsidy funds this month even as it assured that the list of beneficiaries is already in place.
“The implementation is definitely September,” said LTFRB Executive Director Robert Peig.
The fuel subsidy for modern jeeps and UV Express is at P10,000; P6,500 for old jeeps, taxis, buses and TNVS; P1,200 for delivery riders; and P1,000 for tricycle drivers.
The LTFRB is also set to decide on the P1 provisional increase in the minimum fare for jeeps.
“If granted, what will be the effect on our riders? If not granted, what will be the effect on the operator and drivers? That is the balancing process,” Peig said.
Drivers regulated by the agency would receive their subsidies through fuel cards, while those under local government units, the Department of Information and Communications Technology, and the Department of Trade and Industry will get the funds through e-wallets.
The country’s oil firms raised pump prices by as much as P0.80 per liter on Tuesday to reflect the movement of prices in the world oil market.
The oil firms raised the price of kerosene by P0.80 per liter, diesel by P0.70 per liter and gasoline by P0.30 per liter.
This was the 8th consecutive week of increase for diesel and kerosene and the seventh consecutive week for gasoline.
These price adjustments resulted in a year-to-date net increase of P14.80 per liter for gasoline, P9.50 per liter diesel and P6.64 per liter for kerosene.