World

Philippines disburses 385 million USD to cushion fuel price surge

Budget Secretary Rolando Toledo said the accelerated disbursement aims to ensure that essential public services and construction works continue without disruption, as higher oil prices place pressure on transport costs and household spending.

The Philippines disburses 385 million USD to ease fuel price pressures (Photo: US Energy Market)
The Philippines disburses 385 million USD to ease fuel price pressures (Photo: US Energy Market)

Hanoi (VNA) – Philippine President Ferdinand R. Marcos Jr. has directed the Department of Budget and Management (DBM) to release 21.47 billion PHP (about 385 million USD) to sustain infrastructure projects, protect jobs and mitigate the impact of rising fuel prices linked to tensions in the Middle East.

In a statement issued on March 19, Budget Secretary Rolando Toledo said the accelerated disbursement aims to ensure that essential public services and construction works continue without disruption, as higher oil prices place pressure on transport costs and household spending.

He stressed that each budget allocation is intended to support people’s livelihoods, maintain service operations and ease the burden caused by global factors beyond domestic control.

Of the total amount, around 2.49 billion PHP will be allocated to the Department of Transportation to implement a fuel subsidy programme providing direct support to drivers and transport operators affected by rising fuel costs. Meanwhile, about 18.65 billion PHP will go to the Department of Public Works and Highways to sustain nationwide infrastructure projects, helping secure employment, improve road safety and maintain economic activity.

An additional 324.36 million PHP will also be released to the public works agency to settle previous obligations related to foreign-assisted infrastructure projects, ensuring timely completion.

The move is seen as part of the Philippine Government’s broader efforts to respond to global economic shocks, particularly energy price volatility amid rising geopolitical tensions./.

VNA
#Philippines #cushion #fuel #price
Follow VietnamPlus

Related News

Secretary of Environment and Natural Resources Juan Miguel Cuna speaks during the 2026 World Water Day event at the Diamond Hotel in Manila on March 19, 2026. (PNA photo by Marita Moaje)

Philippines faces risk of water shortages

DENR Undersecretary Carlos Primo David underscored the department’s programmes to bring potable water to the country's remote provinces, targeting 250 small islands where drinking water is scarce.

Illustrative image (Photo: VNA)

Philippines wins support for CPTPP’s entry

Australian Assistant Minister for Foreign Affairs and Trade, and Immigration Matt Thistlethwaite said CPTPP is a high quality trade agreement that sets high standards and the Philippines is on a path to achieving that.

See more

Malaysia establishes ‘war room’ to ensure water security

Malaysia establishes ‘war room’ to ensure water security

The establishment of the war room reflects the Malaysian government’s commitment to shift from a reactive approach to a more proactive, data-driven one in managing national water challenges, particularly amid increasingly unpredictable weather conditions caused by global climate change

Indonesia diversifies supply sources to ensure energy security

Indonesia diversifies supply sources to ensure energy security

Indonesia is facing significant supply pressure as crude oil consumption reaches approximately 1.6 million barrels per day, much lower than the domestic production at only around 600,000 barrels per day, forcing the country to rely heavily on imports.

Indonesian-branded cosmetic and personal care products are available at supermarkets and shopping malls (Photo: VNA)

Indonesia aims to master cosmetics industry value chain

Key drivers include its large population, expanding middle class, and rapidly rising demand for beauty products, especially among young consumers. The market has reached billions of US dollars and is projected to maintain strong growth in the medium term.

The Anthropic logo is seen in this illustration taken on Mar 1, 2026. (File photo: Reuters)

Singapore warns of cyber risks from Frontier AI models

According to CSA, advanced AI models – among the most cutting-edge systems today – can significantly shorten the time needed to identify system vulnerabilities and develop exploitation tools, reducing the process from months to just hours.

Helicopter carrying eight reported missing in Indonesia

Helicopter carrying eight reported missing in Indonesia

Indonesian authorities are urgently conducting a search and rescue operation after receiving reports that a helicopter carrying eight people suddenly lost contact on the morning of April 16 in West Kalimantan on the island of Borneo.

Malaysia’s job losses surge 47% in the first quarter of 2026 (Photo: AFP)

Malaysia's layoffs rise 47% in first quarter

The report, based on figures from Malaysia’s Social Security Organisation, showed layoffs peaked in January with around 10,700 cases before easing to 7,500 in February and 5,900 in March. Despite the slowdown toward the end of the quarter, the total remained significantly higher than the roughly 16,500 layoffs recorded in the same period of 2025.