About 1.3 million qualified public transport operators and drivers will receive a one-time payout of fuel subsidy that will partially provide them a financial cushion amid rising fuel costs.

At a public briefing hosted by state-run PTV 4 on Wednesday, Land Transportation Franchising and Regulatory Board or LTFRB technical division chief Joel Bolano said regulators opted for a one-time payout so beneficiaries can better feel the effect of the subsidy.

"Our fund will be sourced from the 2023 National Expenditure Program and for the past years, we have been disbursing payments in tranches but right now, it might be a bit small if we do that," Bolano said.

Those operating and driving public utility jeepneys will receive P6,500, while those using modern jeepneys will get P10,000.

Tricycle and motorcycle operators and drivers, on the other hand, will receive P1,000 and P1,200, respectively.

Such subsidies will be distributed to beneficiaries through digital banking such as e-wallets, bank accounts, or Fuel Subsidy Cards that can be used at some selected gas stations.

Bolano explained the difference in fuel subsidy for old and modern jeepneys was due to operational costs as well as fuel consumption.

"Compared the traditional to the modern, for example, the modern jeepney has additional amortizations because the units are new, they don't just use fuel that's why there are differences," he added.

For the 9th consecutive week, oil companies increased fuel prices starting Tuesday due to ongoing production cuts implemented by leading oil producers.

The prices of diesel sold at the local pumps will increase by P1.20 per liter. Kerosene prices, on the other hand, will also go up by P1.10 per liter, and gasoline prices, by a slight P0.50 per liter.