By Ruth Abbey Gita-Carlos
NEW YORK CITY – President Ferdinand R. Marcos Jr. will formally ask Congress to grant him emergency powers to reduce excise tax on petroleum products amid the crisis in the Middle East, Malacañang said on Sunday (New York time).
In a media interview here, Palace Press Officer Claire Castro said the Department of Energy (DOE) would submit the formal request to Congress on behalf of the President.
“Nakikipag-ugnayan po sila. At ang panawagan po nila ay gagawin itong Lunes na ito (They are coordinating, and their request will be submitted this coming Monday),” Castro said.
Marcos earlier said he is considering exercising emergency powers to reduce the excise tax on petroleum products if oil prices reach or exceed USD80 per barrel.
The proposed excise tax reduction would be temporary and subject to approval by Congress.
Marcos also sought amendments to the Biofuels Act of 2006 to allow the use of cheaper bioethanol, in an effort to cushion the impact of the soaring oil prices amid the crisis in the Gulf region.
He earlier told consumers to brace for higher pump prices, with gasoline projected to rise by PHP7.48 per liter, diesel by PHP17.28 per liter, and kerosene by PHP32.35 per liter. (PNA)
