DOE: P44.6 million in fuel subsidies released

CEBU, Philippines — The Department of Energy (DOE) has disbursed more than ?44.6 million under the government’s fuel subsidy program, with officials projecting that the remaining budget could be fully utilized within the next three to four weeks.

During a virtual press conference, DOE Oil Industry Management Bureau Director Rino Abad reported significant progress in the implementation of the program, which was allocated a total budget of ?200 million to assist public utility vehicle (PUV) drivers amid fluctuating fuel prices.

Abad said the program has expanded its reach nationwide, with more than 1,200 gasoline stations now participating. The wider network has improved accessibility for PUV drivers seeking to avail themselves of the subsidy.

On the beneficiary side, around 40,910 unique PUV drivers have successfully received fuel subsidies out of approximately 143,000 drivers whose information has been uploaded into the system.

Abad also noted a substantial increase in weekly claims, with the sixth week recording the highest utilization rate so far at around ?35 million in a single week.

“We are seeing a steady increase in program utilization, and if this trend continues, we expect the remaining balance of roughly ?150 million to be fully utilized within the next three to four weeks,” Abad said.

The DOE likewise reported improvements in the program’s operational efficiency, particularly in the reimbursement process for participating gasoline stations.

According to Abad, reimbursements continue to be settled within the agreed five- to seven-day period, ensuring that fuel retailers are compensated promptly for subsidy transactions.

The agency also said that implementation issues encountered during the first six weeks of the program have largely been resolved, resulting in smoother processing and fewer concerns among participating fuel stations.

With the program gaining momentum, the DOE encouraged more gasoline stations and qualified PUV drivers to participate, citing the improved stability and reliability of the system as it moves closer to full budget utilization.

The fuel subsidy program forms part of the government’s efforts to cushion the impact of rising fuel costs on public transport operators and drivers, helping them manage operating expenses while ensuring continued delivery of transportation services to the public. — (FREEMAN)