President-elect Ferdinand “Bongbong” Marcos Jr. sees no need to suspend fuel excise tax amid the successive increases in oil prices brought about by a number of factors including the Russia-Ukraine conflict.
Marcos Jr., who is set to take oath as the 17th President of the Philippines, said in a press briefing on Monday, June 20, that he would rather provide assistance to sectors most affected by oil price hike.
“I prefer to handle the problem on the other side of the equation and provide assistance to those who are in need. Because if you reduce the excise taxes, that does not necessarily help those in need, ‘yung talagang tinatamaan kasi blanket eh,” he said, in response to the proposed oil excise tax suspension.
“So ang aking iniisip, kung sino ang talagang tinatamaan, example ‘yung lumabas kaagad ‘yung transport, ‘yung nagpapasada, all of that, ‘yung tinamaan kaagad i-focus muna natin on that… Those whose livelihoods are in danger because of the increase in the oil [prices], ‘yun ang dapat doon tayo mag-focus,” he added.
The president-elect also mentioned the need to digitize the bureaucracy and expedite processes on the issuance of national IDs to ensure smooth distribution of assistance.
On June 14, the P2.00 to P4.00 increase brought this year’s diesel prices per liter by P36.85, gasoline by P26.55, and kerosene by P33.10. The most recent oil price hike on June 21 adjusted diesel price by P3.10 per liter, gasoline by P0.80, and kerosene by P1.70. – Report from Mark Fetalco/AG – gb
