^{Photo credit: Senate.gov}

Senator Bam Aquino is urging Congress to give the President authority to suspend excise taxes on fuel, aiming to preempt price shocks for consumers and public transport drivers amid rising global oil prices.

In an interview on March 4, Aquino said his proposal, filed as Senate Bill No. 1923, would allow the President to act before increases in fuel prices ripple through the economy.

“Nandiyan na iyong kapangyarihan sa presidente para agad-agad ma-suspend na ito. Hindi na maranasan ng taumbayan iyong pagtaas ng presyo ng krudo”(“The President already has the power to immediately suspend it. The public will not have to experience the rise in crude prices”), he said.

The bill is still pending legislative action, and Aquino urged its certification as urgent to allow the President to act promptly when fuel prices climb.

“*Right now, wala pa naman sa USD 80 per barrel ang presyo ng krudo. But we’re expecting this to go higher… Kumbaga, pagtaas ng presyo ng krudo, sana nakahanda na iyong batas na ito*”

(“Right now, the price of crude is still below USD 80 per barrel. But we’re expecting this to go higher… Basically, when crude prices rise, the law should already be ready”).

The measure is designed to protect transport workers whose livelihoods are directly affected by fuel costs. “Kadalasan yung gobyerno natin nahuhuli sa mga response, nahuhuli sa mga posibleng aksyon… we have a chance to actually stop this from happening”

(“Our government is often slow to respond, slow to act on possible problems… we have a chance to actually stop this from happening”).

Aquino also addressed concerns over potential revenue losses from the suspension.

 “Ang kaakibat kasi niyan ay yung tamang paggamit ng pondo ng bayan… Mas malaki iyan di hamak kaysa sa posibleng mawawala na buwis dito sa krudo at dito sa gasolina at diesel,” he added. (“The key is proper use of public funds… That is far bigger than the possible revenue loss from crude, gasoline, and diesel taxes”).

The Senator reiterated the importance of protecting public transport drivers. “We also know that ang ating jeepney drivers, tricycle drivers, our PUV drivers will be heavily affected kung magtaas ang presyo ng gasolina at ng diesel,” Aquino told reporters. (“We also know that our jeepney drivers, tricycle drivers, and other PUV drivers will be heavily affected if gasoline and diesel prices rise”).

Aquino’s proposal comes amid anticipation of higher crude prices and concerns over inflationary pressures on domestic goods due to intensifying conflicts in the Middle East.

How do you view giving the President the power to suspend fuel excise taxes? Could it meaningfully ease the burden on transport workers and consumers? Share your thoughts.

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