Senator Bam Aquino has filed Senate Bill No. 2011 seeking to classify gasoline, diesel, and other petroleum products as basic necessities, placing them under government price control mechanisms in response to rising fuel costs affecting Filipino households.
The measure aims to amend Republic Act No. 7581 by expanding the list of essential goods subject to price ceilings during national emergencies. Currently, only liquefied petroleum gas (LPG) and kerosene are covered by the law.
Aquino’s proposal also extends the allowable duration of price controls from 15 to 30 days, ensuring government interventions remain effective amid prolonged price surges.
“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 stressed.
Beyond price control, Aquino is also advocating for the suspension or removal of the 12% value-added tax (VAT) on petroleum products, which he said would provide immediate relief to consumers.
“Sa kasalukuyang presyo ng diesel ngayon na ₱124 kada litro, kapag inalis natin ang 12% VAT at excise tax, bababa ang presyo nito ng halos bente pesos kada litro. Malaking tulong ito sa mga Pilipino,” Aquino explained, emphasizing the potential benefit for transport workers and households.
The senator urged the Department of Energy, along with economic managers such as the Department of Finance and the Department of Economy, Planning, and Development (DEPDEV), to study VAT reforms on fuel as part of the government’s immediate response to the ongoing oil crisis.