MANILA, Philippines — The Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB) are preparing the necessary documentation for the possible release of fuel subsidies to public utility vehicle (PUV) operators and drivers once global oil prices reach $80 per barrel, Transportation Secretary Giovanni Lopez said. Lopez said the agency had instructed the road transport sector to begin processing the requirements so the assistance could be distributed immediately once the price threshold is met. The preparation follows the directive of President Ferdinand Marcos Jr. to ensure that government aid for PUV operators and drivers was ready amid tensions in the Middle East that could drive up global oil prices. “What is more interesting right now is we have a fuel subsidy. I instructed the road sector to start the documentation, the processing of the fuel subsidy so that if we meet the threshold of $80 per barrel, what we will basically do is to give the subsidy,” Lopez said. The transportation chief said the government had earmarked about P2.5 billion for the fuel subsidy program intended to cushion the impact of rising fuel costs on the public transport sector. Lopez also said the LTFRB was currently evaluating pending petitions seeking fare increases for public utility vehicles. “Even without the problem now in the Middle East, the LTFRB has already been studying the possibility of a fare hike. They have a pending petition with that,” he said.