BAGUIO representative Mark Go has filed a bill seeking to provide relief for Filipinos amid soaring fuel prices nationwide.
Go filed House Bill (HB) 1440, which would reduce excise taxes on all fuel and petroleum products in the country.
Under the bill, Go proposes to roll back excise taxes on fuel products such as below 91-octane gasoline from P10 to P4.35; above 91-octane gasoline from P10 to P5.35; diesel from P6 to P0; kerosene from P5 to P0; and liquified petroleum gas (LPG) from P3 to P0.
“While the erratic and volatile behavior of oil price in the world market is beyond the control of the Philippine legislature, it remains its duty to provide immediate relief to Filipinos amidst the ongoing fuel crisis. The temporary reduction of excise tax on petroleum products is a viable remedy that Congress may adopt in order to ease the burden on motorists and consumers,” Go said.
HB 1440 intends to revert excise taxes to initial rates from when Dubai crude oil prices stabilized at USD65 or under for four consecutive weeks.
Go also filed HB 1659, which proposes a price ceiling and fixing the maximum rate increase to prevent wide price disparities from region to region, as well as granting the Department of Energy more power to regularly monitor oil prices by mandating traders to submit monthly reports to justify price hikes.