Bongbong Marcos Not in Favor of Suspending Oil Excise Tax amid High Fuel Prices?

President-Elect Bongbong Marcos Speaks on PH Oil Problem

BONGBONG MARCOS – The President-Elect expressed his side in addressing the struggles of Filipinos amid high oil prices.

A lot of Filipinos currently have no choice but to deal with the high oil costs in the Philippines. For several months now since January 2022, the prices of fuel kept on increasing. It led the prices of diesel and gasoline to go past P85 per liter.

Public utility vehicle (PUV) drivers are calling for an increase on minimum jeepney fare to mediate the impacts of the high prices of fuel in the country. According to many of the PUV drivers, they can hardly earn daily due to the high prices of fuel.

A provincial bus group also previously revealed that they are planning to file a petition seeking an increase in the minimum fare in buses. The prices of fuel increased again today.

Bongbong Marcos
Photo Credit: The Manila Times

Amid the high prices of fuel in the Philippines, many are calling for the suspension of the oil excise tax. However, Malacañang rejected the call saying that the budget is already allotted for the projects of the government.

Recently, president-elect Bongbong Marcos also spoke on the call for the suspension of oil excise tax. Based on a report on ABS-CBN News, the incoming president wants to prioritize the release of assistance to those who are greatly affected by the problem than suspend the oil excise tax.

According to Marcos Jr., he wants to focus on helping those who are greatly affected by the problem like the drivers in the transport sector. He expressed that some people can afford to pay for the VAT.

The incoming President considers the suspension of the oil excise tax as a “blanket” solution that might not address the needs of those who are greatly affected.

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