MANILA, Philippines – Energy Secretary Sharon Garin warned of a possible increase in fuel prices in the week starting Monday, April 20, amid uncertainty over the situation in the Middle East.

The Department of Energy secretary said this a day after President Ferdinand Marcos Jr. announced a big-time rollback in fuel prices effective Tuesday, April 14.

Garin told senators during the Senate PROTECT (Proactive Response and Oversight for Timely and Effective Crisis Strategy) committee on Monday, April 13, that United States President Donald Trump and other parties involved in the conflict have become unpredictable.

According to her, the oil market prices began to fall after a ceasefire was announced on Wednesday, April 8. But oil prices began to go up again after Trump threatened a blockade of the Strait of Hormuz.

“The rollback tomorrow (Tuesday) is for sure. If there’s an increase, it will be the following week,” she said.

Fuel subsidy woes

Transportation Undersecretary Mark Steven Pastor said around P1.4 billion in subsidies have yet to be distributed to public transport operators and drivers, and the transport department has requested an additional P5 billion to fund the service contracting program.

“For example po, sa drivers ng public utility buses, yung 21,000 supposed beneficiaries, nasa less than 2,000 pa lang po yung nakatanggap. For the mini-bus po, nasa 1,138 beneficiaries, more than 100 plus pa lang po yung nakatanggap,” he explained.

(For example, among the 21,000 supposed beneficiaries of public utility bus drivers, just around 2,000 received the subsidy. For the mini-bus [drivers] – around 1,138 beneficiaries – only more than 100 received it.)

According to Department of Economy, Planning and Development (DEPDev) Secretary Arsenio Balisacan, the government may need an additional P11 billion to aid affected operators and drivers in Metro Manila alone.

Balisacan said the P238 billion in funding for this year’s General Appropriations Act (GAA) may only last three months. The government has so far released around P125 billion. – Rappler.com