Tag: fuel prices

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Lacson Pushes Shorter Time to Act on Excise Fuel Taxes

Citing the “extraordinary” circumstances caused by the war in Iran, Senate President Pro Tempore Panfilo “Ping” M. Lacson on Tuesday pushed for a shorter time for the President before suspending – or restoring – the excise tax on fuel upon the recommendation of the Development Budget Coordination Committee (DBCC).

Lacson suggested to reduce the period to average the Dubai crude oil price based on Mean of Platts Singapore (MOPS) from the present one month to two weeks before suspending excise taxes, so consumers can immediately feel some relief from rising fuel costs.

“With all due respect, two weeks is not irrelevant. It has a big effect on consumers. Ang two weeks na matitipid mo sa pagkarga ng gas, malaking bagay yan (With all due respect, a two-week difference is not irrelevant. It has a big effect on consumers. Two weeks where they can save on fuel prices is a big deal),” he said during his interpellation of Senate Bill 1982, allowing the automatic suspension or reduction of excise tax on petroleum products.

In Filipino: Lacson, Isinulong ang Mas Maikling Panahon para Aksyunan sa Excise Fuel Taxes

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Lacson Eyes Faster Mechanisms to Address Rising Fuel Costs

Senate President Pro Tempore Panfilo “Ping” M. Lacson is seeking to speed up the government’s mechanisms to address rising fuel costs, especially amid unstable prices of oil due to the tension in the Middle East.

Lacson on Saturday particularly pushed for an amendment to the National Internal Revenue Code (NIRC)’s provision that would shorten the “wait period” of three months before suspending excise tax on fuel.

“I am not just pushing for an emergency power but for a permanent amendment to the NIRC to shorten the ‘wait time’ to suspend excise taxes, especially with the situation now in the Middle East. We cannot wait three months before suspending the imposition of an excise tax,” he said in a mix of English and Filipino in an interview on DZMM.

In Filipino: Lacson Nais Pabilisin ang mga Mekanismo upang Matugunan ang Tumataas na Presyo ng Langis

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Lacson: Report to PNP, LGUs Gas Stations Prematurely Raising Fuel Prices

Senate President Pro Tempore Panfilo “Ping” M. Lacson over the weekend urged the public to report gas stations that prematurely increase fuel prices, amid reports that some establishments have already raised pump prices ahead of scheduled adjustments.

Lacson said prematurely increasing fuel prices violates Republic Act No. 8479, or the Downstream Oil Industry Deregulation Act of 1998; and Republic Act No. 7394, or the Consumer Act of the Philippines.

He said the public can report violations to the Philippine National Police (PNP) and local government units.

“Amid reports that some gasoline stations have already increased prices, they must be reported to authorities. Here’s why – Raising prices ahead of schedule or hoarding fuel may be liable for: 1) Hoarding & Profiteering – RA 8479; and 2) Unfair or deceptive sales practice – RA 7394,” he said on his X account late Saturday.

In Filipino: Lacson sa Publiko: I-report sa PNP, LGUs ang mga Gasolinahang Maagang Nagtaas ng Presyo ng Langis

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Lacson, May Solusyon sa Tumataas na Presyo ng Gasolina

Kondisyunal na pagsuspinde sa excise tax ng gasolina, at ang pagtanggal sa napakaraming Value-Added Tax (VAT) exemptions.

Ayon kay Senador Panfilo “Ping” M. Lacson, ito ang dalawang magkaakibat na solusyon na magbibigay ng hinga sa mga Pilipino sa patuloy na pagtaas ng presyo ng gasolina.

“We can conditionally suspend excise taxes on fuel when oil prices reach a threshold price in the international market such as $90 or even $100 per barrel. This could provide some breathing space not just for the transport sector but those affected by high fuel prices,” ayon kay Lacson sa isang panayam Linggo ng gabi.

Related: Lacson Pushes 2-Pronged Formula for ‘Breathing Room’ Amid Soaring Fuel Prices
Continue reading “Lacson, May Solusyon sa Tumataas na Presyo ng Gasolina”

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Lacson Pushes 2-Pronged Formula for ‘Breathing Room’ Amid Soaring Fuel Prices

A conditional suspension of the excise tax on fuel, and the scrapping of several lines of exemption in the Value-Added Tax (VAT).

Sen. Panfilo “Ping” M. Lacson said this is the two-pronged formula that can give Filipinos some badly needed breathing room from the effects of prohibitive fuel prices.

“We can conditionally suspend excise taxes on fuel when oil prices reach a threshold price in the international market such as $90 or even $100 per barrel. This could provide some breathing space not just for the transport sector but those affected by high fuel prices,” Lacson said in an interview with the media Sunday evening.

Related: Lacson, May Solusyon sa Tumataas na Presyo ng Gasolina
Continue reading “Lacson Pushes 2-Pronged Formula for ‘Breathing Room’ Amid Soaring Fuel Prices”