CAGAYAN DE ORO CITY — The Land Transportation Franchising Regulatory Board (LTFRB) announced on Saturday that it will start releasing fuel subsidies in Northern Mindanao and various parts of the country.

Aljo Bendijo, LTFRB regional director, said the fuel subsidy and financial assistance will go directly to the accounts of drivers and operators.

“We already have the list and will begin releasing on Monday,” he said.

The LTFRB is releasing a fuel subsidy to help PUV drivers and operators manage rising fuel prices, offering ₱5,000 for traditional jeepneys and up to ₱10,000 for modern jeepneys.

The subsidy, part of a ₱2.5 billion program, is being distributed through Landbank and digital wallets (GCash/Maya).

Bendijo also assured that there will be no transport strike or holiday in Northern Mindanao, particularly in Cagayan de Oro City. He said he will meet with the transport groups in Northern Mindanao to discuss the release of the fuel subsidy.

Earlier, transport groups announced they will no longer join the scheduled nationwide strike as they will not ply their routes due to the rising cost of fuel triggered by the Middle East crisis.

Luzminda Escobido, President of the Northern Mindanao Transport Cooperatives, said as of Friday, the cost of diesel in the region has reached ₱100 per liter and is expected to increase daily, making their trips unprofitable.

She said long-distance bus routes, which used to generate at least ₱20,000 per day, have been reduced to only ₱10,000, minus the maintenance salaries of employees.

“Instead of joining nationwide, it was decided that we will cease operation, ‘transport Pahulay’ (rest) to prevent more losses,” she said.