Members of Kilusang Mayo Uno and Pagkakaisa ng mga Samahan mga Tsuper at Opereytor Nationwide hold a protest against oil price hikes at the Boy Scout Circle, Quezon City on August 1, 2023. Jonathan Cellona, ABS-CBN News
MANILA — Reducing the excise tax on fuel would be timely as pump prices are expected to soar due to the conflict in the Middle East, Malacañang said on Sunday.
President Ferdinand Marcos, Jr. last week said he would talk to Congress leaders about the proposal to give him the “authority to reduce excise tax on petroleum products should Dubai crude exceed $80 per barrel.”
Palace Press Officer Claire Castro said proposed measures on this are “timely”, adding however that she has yet to see the bills since she is in New York with the president.
“Alam naman natin na ang Kongreso ay aprubado itong request ng Pangulo so dapat maging siguro ito,” Castro told DZMM Teleradyo in an interview.
“[Ito ay] para maipababa natin, ma-reduce natin yung excise tax kasi dagdag din itong bigatin sa balikat ng ating mga kababayan,” she added.
What's the difference between excise tax and VAT - and why we pay both
DEPARTMENT OF ENERGY MONITORING PUMP PRICES
The Department of Energy, she said, is coordinating with oil companies and local government units in monitoring gasoline stations that increase fuel prices arbitrarily.
“Kung may lalabag sa itinakdang presyo kahit mayroon tayong Oil Deregulation [Law], still hindi pwedeng magtaas basta-basta ng presyo nang walang abiso,” the Palace official added.
Energy Secretary Sharon Garin is already looking into reports of gas stations that implemented price increases in the past days, she said.
“Pinapatingnan talaga kung anong nangyari otherwise kasi kung totoong nangyari ito, maaari silang makasuhan,” she said.
The Philippines consumes almost 500,000 barrels of oil daily and is ranked 32nd in the world for the highest consumption of oil.
Senate President Vicente Sotto III said the chamber would discuss the president's proposal, which some senators have backed, including Senate Majority Leader Miguel Zubiri and Sens. Erwin Tulfo, and Christopher Lawrence Go.
Speaker Faustino "Bojie" Dy III said the House is open to studying the proposal.