By Leonel Abasola
MANILA – Senator Bam Aquino on Monday pushed for the passage of a measure that would reclassify gasoline, diesel and other petroleum products as basic necessities, placing them under the government’s price control mechanisms to help ease the burden on Filipinos amid rising fuel costs.
In filing Senate Bill No. 2011, Aquino said the measure will address a gap in Republic Act No. 7581 or the Price Act, by including petroleum products among the basic necessities that may be subjected to a price ceiling during periods of national emergency.
The bill also extends the allowable period for price control on these products from 15 days to 30 days, ensuring that government interventions remain effective amid sustained price increases.
Currently, only liquefied petroleum gas (LPG) and kerosene are considered basic necessities.
“The Philippines is in the midst of a fuel price crisis and Filipino families are feeling the strain. Rising diesel and gasoline prices have pushed up transportation costs, food prices and the cost of basic goods,” Aquino said in a news release.
He added that across the country, workers, small business owners, farmers, and ordinary households are struggling to make ends meet.
“This proposal complements broader efforts to deliver targeted assistance, support workers and small businesses, and ensure the continuity of essential services during this period of uncertainty,” Aquino said.
Aside from subjecting petroleum products under price control, Aquino is also pressing for the suspension or removal of the 12-percent value-added tax (VAT) on fuel products, saying it can provide significant relief to Filipinos reeling from rising pump prices due to the Middle East crisis.
Revisiting the collection of VAT on petroleum products, he said, could have a bigger and more direct impact on fuel costs and help ease the burden on consumers, especially transport workers.
He noted that removing the 12 percent VAT and excise tax would lower the price of diesel and gasoline by almost PHP20 per liter. (PNA)
