Following the latest oil price hikes, lawmakers called on the next Congress to immediately pass a law suspending excise taxes on diesel, gasoline, cooking gas and other oil products.
FOLLOWING the latest oil price hikes, lawmakers called on the next Congress to immediately pass a law suspending excise taxes on diesel, gasoline, cooking gas and other oil products.
Already, the cost of crude oil in the international market has jumped to more than $110 per barrel following the EU’s decision, he said. For his part, Zarate said the Makabayan bloc maintained its stand that the “best way to go is to again regulate the downstream oil industry in our country” to “effectively address the current oil price crisis.”
Members of the bloc has also filed HB 10386 or the Unbundling Oil Prices Act of 2021 and HB 243 titled “An Act Reversing Repressive and Anti-Poor Taxation, Repealing for the Purpose Certain Sections of RA 10963 Otherwise Known as Tax Reform For Acceleration and Inclusion Act.” The Senator said he would rather focus on targeted “ayuda” for affected sectors like drivers of Public Utility Vehicles or tricycles. The ones most in need should be directly helped, Gatchalian said.
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