LTFRB to provide P6,000 fuel subsidy to PUV drivers by August

The Land Transportation Franchising and Regulatory Board (LTFRB) will provide a P6,000 fuel subsidy to all public utility vehicle (PUV) drivers in August.

This is to mitigate the impact of Tuesday's big-time oil price hike, according to GTV’s Balitanghali report.

On Monday, Chevron Philippines Inc. (Caltex), Petron Corp., Pilipinas Shell Petroleum Corp., and Seaoil Philippines Corp. announced they would hike prices per liter of gasoline by P1.90, diesel by P2.10, and kerosene by P1.80.

Cleanfuel, Petro Gazz, Phoenix Petroleum Philippines Inc., PTT Philippines Corp., and Unioil Petroleum Philippines Inc. will implement the same changes, excluding kerosene, which they do not carry.

The Department of Energy’s (DOE) Oil Industry Management Bureau earlier said increases are expected this week due to the scheduled supply cuts and hopes for higher demand. — DVM, GMA Integrated News