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Gov't says P18.3 billion subsidy released to mitigate impact of high fuel prices

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<p>MANILA - The government has disbursed a total of P18.3 billion in subsidies for households affected by high fuel prices, the Department of Finance said Monday, as it announced the end of the program.<br/> <br/>The program, meant to mitigate the impact of rising fuel prices due to the Russia-Ukraine war, benefitted about 9.2 million households, the DOF said in a statement. </p><p>“Now that our economy is recovering strongly and world oil prices are gradually stabilizing, we are shifting our focus towards ensuring food security to control inflation,” said Finance Secretary Benjamin Diokno.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/video/business/01/13/23/global-crude-oil-price-still-volatile-but-downward-easing-seen-stakeholder">Global crude oil price remains volatile but downward easing seen: stakeholder</a></li></ul><p>The program which started under the previous administration granted P500 per month to poor households identified by the Department of Social Welfare and Development (DSWD), the DOF said.</p><p>It ended last Dec. 31 with the last payout released last Jan. 4, it added,</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/01/16/23/gas-diesel-price-increase-takes-effect-on-jan-17">Gas, diesel price increase to take effect on Jan. 17</a></li>	<li><a href="https://news.abs-cbn.com/business/07/08/22/govt-ready-to-continue-subsidy-if-oil-prices-remain-high">Govt ready to continue subsidy if oil prices remain high</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2417177" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

The government has disbursed a total of P18.3 billion in subsidies for households affected by high fuel prices, the Department of Finance said Monday.