MANILA — President Ferdinand Marcos, Jr. is seeking a faster rollout of the P3-billion fuel subsidy to around 1 million drivers, the Department of Budget and Management (DBM) said on Tuesday.

Budget Secretary Amenah Pangandaman said while the funding is already available, a joint memorandum circular for this year and its accompanying memorandum of agreement would be needed from the transportation department.

The agency has yet to submit this, however, to the DBM, noted Pangandaman.

"So we are waiting for that. Kailangan po namin ng kopya kasi nasa [General Appropriations Act] po. We cannot release without that," she told Palace reporters.

"Siyempre po si Presidente kapag...gusto po niya kapag nasa budget, kailangan magamit kaagad. 'Yun po. Sana po mailabas namin kaagad kapag meron nang requirement for GAA," she added.

The budget chief said they already followed up the memo to Transportation Secretary Jaime Bautista, noting that this does not have any significant changes.

"Sinabihan na namin siya na kailangan matapos na po nila yung joint...yung [joint memorandum circular] nila and then wala naman masyadong amendment doon," she said.

"I think the can use the previous JMC yata and then sign it and submit to us then we will release the budget," she added.

The Land Transportation Franchising and Regulatory Board last week said it aimed to distribute fuel subsidy to around 1.3 million operators and drivers of public utility vehicles before the end of August.

The agency said it is just waiting for funds to be downloaded from the budget department.

Fuel prices surged again on Tuesday, with gasoline getting more expensive by P1.10 per liter.

Since July 10, the string of fuel price hikes has already totaled P12.50 per liter for diesel, P8.85 for gasoline and P11.85 for kerosene.

However, year to date the net increases total to P14.50 per liter for gasoline, P8.80 for diesel, and P5.84 for kerosene.

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Video from PTV