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Manila Bulletin devider Philippines devider National devider PH gov't urged to ready subsidy grants if Dubai crude breaches threshold

PH gov't urged to ready subsidy grants if Dubai crude breaches threshold

Published Jun 20, 2025 02:45 pm

At A Glance

  • Senator Sherwin Gatchalian said the government should be ready to provide subsidy if the Dubai crude oil breaches the US$80 per barrel threshold.
Senator Sherwin Gatchalian on Friday, June 20 said the government should be ready to provide subsidy if the Dubai crude oil breaches the US$80 per barrel threshold.
Gatchalian made the call as he expressed alarm over the increasing tension between Israel and Iran and which has pushed a global oil price hikes.
“The escalation of the Israel-Iran conflict has caused a surge in global crude oil prices, with Dubai crude averaging US$ 74.04 from June 16 to 18,” said Gatchalian in a statement.
“Should it breach US $80 per barrel, the government must immediately activate subsidy provisions under the 2025 General Appropriations Act (GAA),” he said.
Under the 2025 GAA, Gatchalian said there is a P2.5-billion subsidy under the Department of Transportation’s budget for public utility vehicle (PUV) drivers, taxi operators, tricycle drivers and full-time ride-hailing and delivery service drivers nationwide.
A P150-million budget is also lodged under the Department of Agriculture’s (DA) budget for farmers and fisherfol that would be affected with any possible oil price increase.
“Ang subsidiyang ito ay napakahalagang tulong sa gitna ng patuloy na pagtaas ng presyo ng langis (This subsidy is a very important aid amid the continued increase in oil prices),” the lawmaker stressed.
Earlier, Gatchalian said he will seek a Senate inquiry into the impact of the ongoing conflict between Israel and Iran to assess it’s impact on overseas Filipino workers (OFWs), fuel prices and electricity rates in the country especially in off-grid areas.
“I am filing a resolution… to assess the risks to our energy security. Through this inquiry, we aim to strengthen our preparedness, ensure the continuous supply of energy, and protect consumers from rising costs,” he said.
“Kahandaan ang ating sandata sa kawalang-katiyakang dulot ng giyera sa pagitan ng Israel at Iran (readiness is our weapon to the uncertainty brought about by the war between Israel and Iran),” he pointed out.

Related Tags

Sherwin Gatchalian Israel-Iran attacks General Appropriations Act (GAA) Dubai crude oil
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