Speaker Dy: House to prioritize bills for relief amid rising fuel prices

Speaker Faustino "Bojie" Dy III vowed Tuesday to prioritize the passage of bills that would protect the public from the impact of soaring fuel prices amid the ongoing conflict in the Middle East.

"We recognize that this is a challenge we must face head on, which is why the House of Representatives will work with the Executive to focus on measures that will help cushion the effects of rising oil prices on the various sectors of our economy—especially our workers, commuters, farmers, and small businesses," Dy said in a statement.

"Hindi po kayo nag-iisa sa pagharap sa mga hamong ito. Kami po ay walang humpay na magsusulong ng mga priority bills at mga hakbang na makakatulong upang mapagaan ang epekto ng mga pandaigdigang krisis," Dy said.

(You are not alone in this. We will be relentless in our push for priority bills and other measures that would help address the effects of this global crisis.)

Petroleum companies on Tuesday started implementing staggered pump price increases over a week since the United States and Israel launched Operation Epic Fury against Iran. 

The fighting has since spread to other Gulf states and constricted the global shipping of oil.

Iran's retaliatory attacks have included US-allied countries in the Middle East, where the Philippines imports 98% of its crude oil supply.

Meanwhile, at least five bills seeking to grant the President the authority to suspend or reduce excise taxes on fuel are pending before the House ways and means panel chaired by Marikina Second District Representative Miro Quimbo.

The Department of Energy (DOE) has backed at least one of these proposed measures. Quimbo said he was eyeing to approve a measure granting such emergency powers to the President Ferdinand "Bongbong" Marcos Jr. on third and final reading by Monday next week or before Congress goes on session break on Wednesday next week, March 18.

"We are counting on the Palace to certify this as urgent so we can finish in time. By Monday next week, we can approve it on third and final reading," Quimbo said. 

Palace Press Office Claire Castro said Tuesday the President would certify the measures granting him the authority to suspend or reduce excise tax on fuel as urgent, provided that both the House and Senate ways and means panels are able to provide him their committee reports on the matter.

The Department of Planning and Development also earlier told the House ways and means panel that the suspension of excise taxes on fuel will reduce oil prices by P6 per liter for diesel and P10 per liter for gasoline. — VDV, GMA Integrated News