Sen. Bam appeals to Malacanang: Suspend excise tax on fuel ahead of latest oil price increase

Sen. Bam Aquino appealed to Malacanang to suspend the excise tax on fuel under the Tax Reform for Acceleration and Inclusion (TRAIN) Law, ahead of another round of oil price hike this week.

"Nakikiusap po tayo kay Pangulong Duterte na isuspinde ang dagdag-buwis sa petrolyo para tulungan ang ating mga kababayan," said Sen. Bam, one of four senators who voted against the ratification of the TRAIN Law.

This week, oil companies are expected to increase prices of gasoline by 95 centavos to P1.05 per liter, diesel by 55 to 65 centavos per liter and kerosene by 80 to 90 centavos per liter.

In an effort to lower prices of petroleum products, Sen. Bam filed the Bawas Presyo sa Petrolyo Bill in May 2018, seeking to suspend and roll back the excise tax on fuel under the TRAIN Law once the country's inflation rate exceeds the government's target for three straight months.

"Wala pong ibang matatakbuhan ang taumbayan maliban sa Malacañan dahil tapos na ang session ang Kongreso," Sen. Bam insisted, adding that government should listen to the cry of people who are burdened by high prices of food and other goods.

"Sana kahit panandalian man lang, sa pamamagitan ng pagsuspinde ng excise tax sa langis, maibsan ang kondisyon ng ating mamamayan sa pakikipaglaban araw-araw sa kahirapan. Konting malasakit lang mula sa gobyerno ang hinihingi natin," added Sen. Bam.

With oil prices in the world market rising, Sen. Bam said the government should act now and immediately suspend the excise tax on fuel under the TRAIN Law to help lower prices of petroleum products.

"Ngayong tumataas pa ang presyo ng langis sa world market, hindi maganda na patawan pa ito ng excise tax na dulot ng TRAIN Law dahil sa ating mahihirap na kababayan na naman ang latay nito," said Sen. Bam.