Fuel Subsidy


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Fuel Subsidy

A program in which a government or other organization pays for a portion of gasoline, heating oil, or some other fuel. Fuel subsidies tend to be politically popular, especially when the market price of fuel climbs. However, they have caused unsustainable financial problems in some countries in which they have been implemented.
References in periodicals archive ?
LTFRB Chair Martin Delgra, in a previous interview, said once the distribution closes, they will not be able to claim the 2018 fuel assistance anymore as well as the 2019 fuel subsidy.
The National Confederation of Transport Union (NCTU), which has around 5,000 members in northern Mindanao, raised their concern over the delay in the distribution of the fuel subsidy cards in a meeting with LTFRB officials on Tuesday.
Over the last decade, Nigeria has spent over N9 trillion on fuel subsidy, about N15.5 trillion on capital expenditure, N2.1 trillion on health and about N3.9 trillion on education.
Under the program, fuel subsidy cards are distributed to around 180,000 jeepney operators and drivers in the country.
The senator aired the appeal on learning from the Department of Finance about the 'low turnout' in the distribution of government-issued fuel subsidy cards to qualified franchise holders of public utility jeepneys (PUJs).
The Council of Ministers had issued a decision to expand the base of eligible categories in the National Fuel Subsidy System to include all citizens whose total monthly income is up to a maximum of RO950.
"Because of the government's widening fiscal deficit, ONGC and OIL could be asked to bear part of the Indian government's fuel subsidy for oil, if prices stay above USD 60 per barrel for the fiscal year ending March 2019," Moody's Senior Vice President Vikas Halan said.
More than 50,000 citizens have already received fuel subsidy cards, available at petrol stations nationwide.
They said this became noticed almost three months after the fuel subsidy was totally removed by the central government.
Fuel subsidy reform will help Qatar reduce its budget deficit by allowing spending to decrease, according to BMI Research, a Fitch Group company.
PUBLIC SECTOR oil giant ONGC on Thursday reported a 12 per cent jump in net profit at Rs 4,4146 crore in the January- March quarter as it reversed part of impairment losses and was reimbursed a portion of the fuel subsidy bill that it has been shouldering for the government.
The decision to lift fuel subsidy is a step in the right direction, because fuel subsidy will exacerbate financial imbalance and encourage excess consumption.