DOTr, LTFRB Prepare Fuel Subsidy as Fare Hikes Loom

DOTr, LTFRB prepare fuel subsidy as fare hikes loom

THE Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB) are preparing to release fuel subsidies for public utility vehicle (PUV) operators and drivers if global oil prices reach $80 per barrel, officials said, while fare increases remain a possible contingency.Transportation Secretary Giovanni Lopez said the road transport sector has been instructed to start processing the necessary documentat…

FUEL SUBSIDIES AMID MIDDLE EAST CRISIS PUSHED

With the non-stop oil price spikes likely to spiral up further in the weeks ahead following last weekend’s missile attacks in the Middle East, Deputy Majority Leader Luigi Villafuerte and Camarines Sur Rep. Migz Villafuerte want the government to fast-track contingency plans, including the grant of fuel subsidies to vulnerable sectors, to shield Filipinos  from possibly galloping inflation in the event that the armed conflict in the region escal…