Former senator Ferdinand “Bongbong” Marcos Jr. is urging Congress to suspend the excise tax on oil products to ease the burden of public transport operators.
Marcos said the suspension of excise tax on fuel may significantly slash gasoline prices by P10.00 per liter and diesel products by P6.00 per liter.
Kerosene will likely go down by P5.00 per liter, and Liquified Petroleum Gas (LPG), a common fuel used by households for cooking, will be reduced by P3.00 per kilogram.
“Amending the oil deregulation law with the intent of addressing the issue of runaway oil prices will take some time. This move to suspend the excise tax makes sense and will have an immediate positive impact on our people,” Marcos said in a statement Wednesday (October 20).
Local oil prices have risen for eight straight weeks. Pump prices were raised on Monday with gasoline increasing by P1.8 per liter, diesel and kerosene prices by P1.5 per liter, and P1.3 per liter respectively.
The post Benta sa pumapasada! Bongbong Marcos calls for suspension of excise tax on fuel products first appeared on .Source: Latest Politics News Today (Politics.com.ph)
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