About 87,500 jeepney drivers in the entire country have received fuel subsidies to help them cope with soaring oil prices, the Land Bank of the Philippines said on Saturday.
The Landbank said as of March 17, it has credited up to P569 million to the said drivers, who are cardholders of the Pantawid Pasada program.
More than 377,000 drivers of public utility vehicles (PUV) are eligible to receive the fuel subsidy worth worth P6,500, the Landbank said.
The bank added that it was closely coordinating with the transportation department and the Land Transportation Franchising and Regulatory Board (LTFRB) to distribute the aid.
“LandBank is one with the National Government in providing immediate support interventions to PUV drivers to weather the impact of the fuel price surge,” said LandBank President and CEO Cecilia Borromeo.
Aside from jeepney drivers, LandBank said that it is also rolling out the subsidy for drivers of UV express units, minibuses, buses, shuttle services, taxis, tricycles, and other full-time ride-hailing and delivery services nationwide.
Drivers may get Pantawid Pasada at designated LandBank branches identified by the LTFRB.
The cards can be used to buy fuel at participating gas stations nationwide.
After 11 consecutive oil price hikes, a rollback is projected to be implemented next week, the first for 2022.
Industry estimates show that oil companies may lower their prices of diesel by P11 to P11.70 per liter, gasoline by P6 to P6.20 per liter, and kerosene by P8.70 to P8.80 per liter.
