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Manila Bulletin devider Philippines devider Gabriela solon's dare to Palace bets: Prioritize reversal of Oil Deregulation Law

Gabriela solon's dare to Palace bets: Prioritize reversal of Oil Deregulation Law

Published Feb 22, 2022 01:06 pm

Amid the runaway increases in pump fuel prices, Gabriela Party-list Rep. Arlene Brosas issued a challenge to the candidates vying for the Palace seat in the upcoming 2022 polls: reverse the Oil Deregulation Law.

"Kahit bali-baligtarin ang usapin ng taas-presyo ng langis, Oil Deregulation Law pa rin ang puno't dulo nito (No matter how you spin the discussion on rising fuel prices, the Oil Deregulation Law is still the center of the issue),” said Brosas in a statement on Tuesday, Feb. 22.

Rep. Arlene Brosas of the Gabriela Women's Party-list

“Kaya hamon sa mga tumatakbo sa pagkapangulo na gawing prayoridad ang reversal ng deregulation ng oil industry para pigilan ang walang prenong profiteering ng mga kumpanya ng langis (My challenge to the presidential candidates is to prioritize the reversal of the deregulation of the oil industry to stop the profiteering of oil companies)," she said.

The Downstream Oil Industry Deregulation Act of 1998 liberalized the oil industry, empowered oil companies and made it so that the Department of Energy (DOE) could only monitor oil price fluctuation, reducing the government’s overall control on fuel pricing.

Brosas also brought up the excise tax on petroleum products under the Tax Reform for Acceleration and Inclusion (TRAIN) Law, and reinforced the Makabayan bloc's call to suspend the excise imposed on fuel.

“Magtutuloy-tuloy pa ang oil price hikes na ito, kaya kailangan nang aksyunan ang panawagang suspendihin ang excise tax sa mga produktong petrolyo para kahit paano'y makaalwan sa mga tsuper, komyuter at konsyumer (These oil price hikes won’t stop which is why the excise tax on petroleum products must be suspended to make things easier for drivers, commuters, and consumers),” Brosas asserted.

Under the TRAIN Law, the sale, production, and consumption of petroleum products are subject to taxation.

An eighth oil price hike is expected to take place this week, and it is speculated that gasoline will increase by 95 centavos to P1.05 per liter, and diesel by 55 to 65 centavos per liter.

Related Tags

Oil Deregulation Law excise tax gabriela womens partylist fuel price hike
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