(Eagle News) — Senator Bam Aquino has renewed his call for the suspension of the excise tax on fuel following what he said was a recent “big-time fuel price hike” due to an increase in oil prices in the world market.
“Nalulunod pa rin sa mahal na presyo ng pagkain at bilihin ang ating mga kababayan kaya napakalaking pagkakamali na payagan ang ikalawang bahagi ng excise tax sa ilalim ng (Tax Reform for Acceleration and Inclusion) Law,” Aquino said in a statement.
Aquino noted that he already filed Bawas Presyo sa Petrolyo Bill in May 2018 aimed at suspending and rolling back the excise tax on fuel once the country’s inflation rate exceeds the government’s target for three straight months.
On Tuesday, he noted that oil companies announced an increase of at least P1.40 per liter for gasoline, P2.30 per liter for diesel and P2.00 per liter for kerosene.
The second excise tax hike under the TRAIN Law is not yet included in the increase, he said.
“Kaya mas magandang itigil na ng pamahalaan ang excise tax sa langis sa ilalim ng TRAIN Law bago pa ito magdulot ng dagdag pang pasanin sa taumbayan, lalo na sa mahihirap,” Aquino added.
