House Deputy Minority Leader and Bayan Muna party-list Rep. Carlos Isagani Zarate slammed the oil industry’s continuous price hikes.
As of Tuesday, Feb. 15, another oil price hike took effect, increasing the price per liter by P1.20 for gasoline totaling to about P7.95 per liter, increasing by P1.05 for diesel totaling to about P10.20 per liter, and increasing by P0.65 for kerosene totaling to about P9.10 per liter.
“This has got to stop because consumers can only take so much, especially with the ongoing pandemic that may still last for years,” said Zarate in a press statement on Tuesday, Feb. 15.
“Kung tutuusin, nakapasa na sana ang bill to suspend the excise tax on oil for six months kung hindi ito hinarang ng mga economic managers ni Duterte at hinayaan naman niya ang mga ito (A bill to suspend the excise tax on oil products for six months would have been passed but Duterte’s economic managers blocked it and he allowed it,)” he explained.
Zarate was referring to House Bill (HB) 10488 which was under plenary in November 2021.
According to Zarate, when it seemed that Congress was set to pass HB 10488, oil companies began reducing prices on their products, until the house went on break, resulting in the restart of oil price hikes.
“The suspension of the excise tax on oil products would be a welcome reprieve for struggling public transportation drivers and operators, farmers, fisherfolks and consumers from the still continuing oil price hikes,” said Zarate about the passage of HB 10488 last November
"A similar, if not even worse, kind of governance by Duterte's proxy or favored succesor will just continue the same anti-people policies. Kaya wala tayong ginhawang maaasahan kung sila ang manalo (If they win, we can’t expect relief from this issue)," he said on Feb. 15.
Under the Tax Reform for Acceleration and Inclusion (TRAIN) Law passed in 2018, excise taxation is imposed on the sale, production, and consumption of petroleum products.