Dennis Gasgonia

Article (news)

Katrina Domingo

ABS-CBN News

MANILA — The Philippines will use its P22.7-billion savings to fund a broader cash aid program for indigent Filipinos as oil prices spiked anew due to renewed tensions between the United States and Iran, Malacañang said on Thursday.“Ngayon may P22.79 billion na savings at sa ngayon po kaya po in-announce itong circulars ay para po ipanawagan doon sa mga agencies na i-identify nila at i-declare kung saan nila maaaring magamit ito,” Communications Undersecretary Claire Castro said in a Palace briefing. <div><a href="https://www.abs-cbn.com/news/business/2026/7/23/another-big-time-oil-price-hike-looms-next-week-1818">Another big-time oil price hike looms next week </a> </div>“Pero ang priority po dito ay ang UPLIFT at ang kabuhayan po at mga pagtulong sa ating mga magsasaka,” she said.“Kasama na rin po dito ang pagprotekta sa ating mga pamilyang Pilipino, workers, commuters at mga OFWs na nakaranas po ng medyo hindi magandang sitwasyon dahil dulot po ng krisis sa Middle East,” she added. The Department of Social Welfare and Development is set to release some P12.37 million to fund cash aid programs for indigent Filipinos, the Palace said.In a separate interview, the Department of Transportation (DOTr) noted that the administration is also looking at expanding its fuel subsidy program for public transportation drivers. <div><a href="https://www.abs-cbn.com/news/business/2026/7/19/motorists-businesses-brace-for-looming-big-time-fuel-price-hike-1659">Motorists, businesses brace for looming big-time fuel price hike </a> </div>Castro did not say if the supposed savings account for the country’s unspent funds last year or in the first half of 2026.Earlier this year, the Marcos Jr. administration launched a series of programs to cushion the oil price shock’s impact to indigent Filipinos, but the government has yet to extend its cash aid programs to middle-income families who are also affected by rising prices of basic commodities.

The Philippines will use its P22.7-billion savings to fund a broader cash aid program for indigent Filipinos as oil prices spiked anew due to renewed tensions between the United States and Iran, Malacañang said on Thursday.

The Philippines will use its P22.7-billion savings to fund a broader cash aid program for indigent Filipinos as oil prices spiked anew due to renewed tensions between the United States and Iran, Malacañang said on Thursday.

PH’s P22.7-B savings to fund programs to ease oil price hike woes: Malacañang

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PH’s P22.7-B savings to fund programs to ease oil price hike woes: Malacañang

Katrina Domingo,

ABS-CBN News

Published July 24, 2026 12:01 AM PHT

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Savings

Malacañang

Oil price hike

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