Presidential aspirant Ferdinand “Bongbong” Marcos Jr. and his running mate, Davao City Mayor Sara Duterte, on Thursday urged government to suspend excise tax on fuel imports amid the increase in the prices of fuel products.
In a statement, the tandem said the government should “suspend excise tax on fuel imports as a form of subsidy for oil companies.”
“Oil companies should not take advantage of succeeding increases in fuel prices in the world market as the conflict between Russia and Ukraine continues,” they said.
“‘Wag na muna silang maghangad ng masyadong malaking tubo na ang taumbayan naman ang magpapasan [It should not aim for a bigger profit which will adversely affect Filipino citizens].”
Amid the series of increases in oil prices and the ongoing between Russia and Ukraine, President Rodrigo Duterte has called on Congress to review the oil deregulation law.
Russia is considered as a major supplier of oil globally.
At present, Congress is on break from session and will resume on May 23.
Meanwhile, the Marcos-Duterte tandem also said the government should take mitigating measures to cushion the impact of the expected increase in fuel prices in the world market due to the Russia-Ukraine conflict.
They pointed out that with Filipinos still struggling with the economic effects of the COVID-pandemic, “it would exacerbate their sufferings if fuel prices would further spike as it would also trigger a rise in the prices of basic commodities.” —Anna Felicia Bajo/KBK, GMA News