Baguio solon files bills seeking lower fuel prices for consumers
Baguio City Representative Mark Go has filed bills that seek lower fuel prices for consumers amid continuous oil price hikes.
Rep. Go filed House Bill (HB) 1440, which seeks to reduce the excise tax implemented on fuel and petroleum products as pump prices continue to soar amid increases in world oil rates.
Under the bill, Rep. 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,” Rep. Go said.
HB 1440 proposes to revert the excise taxes to their initial rates when average Dubai crude prices stabilize to US$65 or under for four consecutive weeks.
Rep. Go also filed HB 1659, seeking to amend provisions of RA 8479 or the Downstream Oil Industry Deregulation Act.
The bill proposes to set a price ceiling and fix the maximum increase rate of fuel prices to prevent wide disparities in various locations and to grant more powers to the Department of Energy to regularly monitor fuel prices by requiring oil traders to submit verified monthly reports that justify price hikes.
According to Rep. Go, the country’s deregulated oil industry has led to fluctuating fuel prices as changes in world oil prices immediately reflect in local prices, even if the country has a vast supply of local crude oil.
“High price of oil burdens the people which equates to a lesser purchasing power on the part of the consumers. At present, deregulation has allowed the unguarded increase of oil prices with adverse impact on the prices of basic commodities and other services,” Rep. Go said.###
