Amid the volatile ceasefire between Israel and Iran, the government is still preparing for the repatriation of Filipinos who wish to return to the Philippines as well as for the timely rollout of fuel subsidies to PUV drivers, farmers and fisherfolk should the average price of crude oil breach the $80 per barrel threshold.
“The hope is that the ceasefire lasts longer,” Department of Energy officer-in-charge Sharon Garin said, adding that fewer countries seem likely to be drawn into the conflict.
“For now, the sentiment is one of cautious optimism. If the conflict doesn’t worsen, we expect the economic impact to remain manageable,” she added.
Domestic pump prices are expected to decline following the announcement of a ceasefire, Jetti Petroleum president Leo Bellas, noting that prices fell sharply in early Asian trading.
“a this trend continue, we could see prices making an abrupt U-turn to easing down,” Bellas said.
If solely based on Monday’s Mean of Platts Singapore pricing, the projected movement on domestic pump prices ranges from P0.75 to P0.95 and P1.45 to P1.65 on diesel and gasoline, respectively.
Despite the easing of oil prices, Garin said the government is coordinating with relevant agencies to finalize the distribution of the subsidy programs following President Ferdinand Marcos Jr.’s meeting with his economic team.
“We also have an ongoing meeting with DOTr (Department of Transportation) and DA (Department of Agriculture) and LTFRB (Land Transportation Franchising and Regulatory Board) to make sure that whatever happens, whether it happens, if it happens, we are ready to distribute the subsidies to our PUV drivers, operators, our farmers and fisherfolk,” Garin said in a press briefing in Malacañang.
Garin said a total of P2.5 billion has been earmarked for PUV drivers and operators, while P600 million is allocated for farmers and fisherfolk.
The DOTr has already completed the identification of beneficiaries and is prepared to release the funds as soon as it receives the go-signal, Garin said, adding that coordination with banks and logistical arrangements are still being finalized.
The first batch of overseas Filipino workers (OFWs) repatriated from the Middle East is currently aboard Qatar Airways Flight QR 934, expected to arrive home safely on Tuesday night.
As this developed, 31 Filipinos from the Middle East – 26 OFWs from Israel, three from Jordan, one from Palestine, and one from Qatar – arrived in the country yesterday evening.
Department of Migrant Workers Secretary Hans Leo Cacdac said the repatriates will be provided with immediate financial support amounting to P150,000, on top of airport assistance, including temporary shelter and transportation to their respective provinces.
The Technical Education and Skills Development Authority (TESDA) will also offer skills training for upskilling to facilitate redeployment options for the OFWs, while the Department of Trade and Industry (DTI) will provide support for business and livelihood opportunities.
Israel Ambassador to the Philippines Ilan Fluss said the two main border crossings in Israel — via Egypt and Jordan — are all fully operational, with complete security mechanisms in place to ensure the safety of all foreign nationals, including Filipinos intending to exit the Jewish state.