A transport group in Northern Mindanao is calling on the Land Transportation Franchising and Regulatory Board (LTFRB) to expedite the release of fuel subsidies for the transport sector as prices of petroleum products continue to rise due to tensions in the Middle East.

The Northern Mindanao Federation of Transport Cooperative (NOMFEDTRASCO) made the appeal to help transport operators cope with increasing fuel costs.

“Aside sa fuel subsidy, gusto namo i-release na ang budget sa service contracting para taas-taas ang sustainability kay ang fuel subsidy, gamay ra man ni,” NOMFEDTRASCO CEO, Luzminda Escobidal, said.

Under the fuel subsidy program of the Department of Transportation (DOTr) and the LTFRB, operators of modernized public utility vehicles (PUVs) are entitled to receive P10,000 while operators of traditional jeepneys will get P5,000.

Escobidal said that if diesel prices continue to skyrocket and the subsidy is delayed, some operators may be forced to implement contingency measures to reduce fuel consumption, including possible suspension of operations.

“Kung magpadayon siya naay probability nga naay ma stop ang operation kung di na gyud namo makaya kay lisod man sab,” Escobidal added.

Officials of various transport groups in the region met with the newly appointed regional director of LTFRB-10, who assured them that efforts are underway to facilitate the release of the subsidy for transport operators.

“Wala pa gani impact ni kaning giyera sa Middle East, next month ani, siguro next week, motaas na ang gasolina so mag-andam ta sa atong subsidiya,” LTFRB-10 Director, Alexes Joseph Bendijo, said.

The Department of Energy (DOE) said earlier that big-time oil price hikes may persist in the country as the conflict in the Middle East, one of the primary sources of petroleum products, continues.

DOE said it is monitoring the movements in global oil prices closely.

However, the agency assured the public that the country currently has sufficient oil supply.

“We will last long naman mga 2 months. To order it will only take 1 week so we have enough supply and we don’t direct the oil company to have one year supply because that will be very expensive,” DOE Secretary Sharon Garin said.