MANILA – The government is intensifying preparations to protect households and vulnerable sectors from rising global fuel prices amid renewed tensions in the Middle East, Executive Secretary Ralph Recto said Friday.
Recto convened the Unified Package for Livelihoods, Industry, Food and Transport Committee on Thursday to review measures addressing possible fuel supply disruptions and higher transportation and production costs. The UPLIFT framework was established earlier this year as the government’s coordinated response to the economic impact of the Middle East crisis.
The Department of Energy reported that as of Sept. 14, domestic inventories were equivalent to 57.2 days of gasoline consumption, 60.8 days of diesel and 39.3 days of liquefied petroleum gas.
Recto said the government should act before fuel prices climb further, while continuing to monitor developments that could affect supply, inflation and the broader economy.
The Department of Social Welfare and Development said it has sufficient funds to sustain cash assistance for 7.5 million targeted beneficiaries of the expanded UPLIFT program. About 5.79 million beneficiaries have so far received a combined Php 11.80 billion.
Relief for transport workers includes a Php 12-per-liter fuel discount for qualified public utility vehicle drivers, equivalent to savings of up to Php 1,800 per week. Other measures include selected toll and terminal fee exemptions and public transport fare assistance.
The Department of Agriculture reported that about 2.59 million farmers and fishers have received Php 6.03 billion under the Presidential Assistance for Farmers and Fisherfolk Program. Fuel assistance has separately reached 7,185 fishers and 13,701 farmers.
The government is also maintaining emergency employment programs for vulnerable workers and repatriation assistance for overseas Filipinos affected by the Middle East conflict.
Recto said agencies under the UPLIFT framework will continue coordinating to allow assistance to be expanded if conditions worsen, particularly for sectors vulnerable to higher fuel, food, transportation and production costs.