(Eagle News)–The Department of Energy on Saturday, May 26, said it would recommend the suspension of excise tax on fuel if its price reaches $80 per barrel for three consecutive months.
Energy Undersecretary Donato Marcos said in a radio dzbb interview that the recommendation, should it push through, would be given to the Department of Finance.
In the meantime, he said they were monitoring gasoline stations, and were now requiring them to give a detailed breakdown of their adjustments in the prices of fuel.
“Pag sila ay overpricing o sumusobra, lalo na ang mandato ay ‘yung quality at quantity ng nasabing produktong petrolyo, awtomatiko pina-padlock namin kapag nakita namin ‘yon, lalo’t walang quality,” he said.
Senators Grace Poe, Nancy Binay and Bam Aquino have called for the suspension of the Tax Reform for Acceleration and Inclusion law, particularly its provision on the imposition of excise tax on fuel, saying it has led to a surge in the prices of commodities and services.
“While we understand the need of government to increase revenues, we need to prioritize the protection of the public who are bearing the brunt of these high prices which is negating the increase in take-home pay brought about by lower income taxes,” Ejercito said.