Senator Christopher “Bong” Go on Thursday, April 2, called on the government to implement a more responsive fuel relief mechanism as oil prices continue to increase, emphasizing that farmers and fisherfolk should also benefit from subsidy programs.
Go made the appeal despite the recent move by President Ferdinand Marcos Jr. to sign into law the temporary suspension of excise tax on petroleum products. He pointed out that current aid distribution efforts appear to be largely focused on the transport sector.
“There are farmers and fishermen who say they are not included in the list of those receiving aid. Usually, only the transport sector is given,” Go said, highlighting concerns from marginalized sectors affected by rising fuel costs.
The senator cited Republic Act No. 12316, which authorizes the President to suspend or reduce excise taxes on fuel when global crude oil prices exceed $80 per barrel for at least one month, based on the Mean of Platts Singapore (MOPS). The measure allows either a full suspension or partial reduction, depending on prevailing economic conditions, and may be applied selectively to certain petroleum products.
Go stressed that the law includes safeguards to ensure that any tax adjustment remains temporary and carefully managed.
“This is not just a tax cut. There is a clear basis for when it will be implemented and for how long. Its goal is to provide relief at the right time without affecting the overall balance of the economy,” he explained.
He also underscored the importance of transparency in implementing the measure.
Under the law, the President is required to submit a report to Congress through the Development Budget Coordination Committee, detailing the factual basis for the decision, as well as its impact on government revenues, fuel prices, and inflation.
“It is important that there is clear reporting and data on every step. The public should be able to see how this law is being used and how it is helping the economy and the ordinary citizen,” Go added.