Senator Win Gatchalian has called for a review of the country’s oil deregulation law, saying the government should be given greater authority to monitor and manage fuel prices as the energy crisis linked to tensions in the Middle East continues to impact the Philippines.
Gatchalian revealed that he has already filed a measure seeking to amend the existing law, which currently limits state intervention in fuel pricing.
“(Dapat) bigyan (ng) kapangyarihan ang gobyerno na tignan yung presyo. Kasi ang nangyari noong dineregulate natin, pinagbawalan din natin ang gobyerno na tingnan ang presyo,” the senator said.
He acknowledged that the transport sector remains one of the most vulnerable to rising fuel costs, noting that the government is adopting a calibrated approach to provide relief while maintaining fiscal stability.
While removing excise tax or value-added tax (VAT) on fuel could offer immediate relief, Gatchalian cautioned that such measures would significantly reduce government revenues used for subsidies and essential public services.
“Ginagawa strategically kung ano yung pwedeng gawin na hindi makakaapekto sa koleksyon ng gobyerno. Pero kung kailangan talaga gawin ngayon, naka-stand by na yan at pwede na gawin ng ating Pangulo,” he said.
Congress has already approved a measure authorizing President Ferdinand Marcos Jr. to suspend or reduce excise taxes on petroleum products if necessary.
Looking at long-term solutions, Gatchalian emphasized the need to accelerate the country’s transition to electric and hybrid vehicles to lessen dependence on imported fuel.
“Unang-una, kapag titignan natin ang petrolyo, almost 80% pumupunta sa transportation. Yung importation natin ng petrolyo, almost 90% galing Middle East,” he pointed out.
“Kaya kung transportation ang gumagamit, importante ngayon in the next few years, mahikayat ang mga kababayan natin na mag-transition na sa e-vehicles o hybrid,” he added.