As fuel prices continue to rise, Grab Philippines is spearheading a comprehensive transport resilience plan to support driver- and rider-partners while engaging government agencies to mitigate sector-wide disruptions.
The staggered price increase is intended to ease immediate inflationary pressure, especially on transport and agriculture sectors, according to the Department of Energy.
Fuel giant Shell Pilipinas Corp. saw net income in 2023 plummet by 71 percent to Php1.2 billion on weaker sales and heightened borrowing costs, alongside losses from inventory holdings due to fluctuating global oil prices.
Philippine lawmakers have allocated P2.5 billion in subsidies to public utility vehicle operators this year, Makati City Rep. Luis Campos Jr. said on Tuesday.