Senate President Vicente Sotto III has reiterated his long-standing advocacy for reforms in the oil sector, highlighting years of legislative efforts aimed at shielding Filipinos from volatile fuel prices.
Sotto continues to push for measures to ease the burden of rising petroleum costs, including support for suspending excise taxes on fuel products and filing proposals such as the Total Repeal of Oil Deregulation Law (RA 8479) and the Philippine Strategic Petroleum Reserve Act (SB 1934).
He stressed that his position on oil taxation has been consistent. In a forum, Sotto recalled,
“If you will recall, [in 1998] I did not vote in favor of oil deregulation, I did not vote in favor of EPIRA. I voted against that. I voted against the laws that I felt during that time would have a very difficult or potential impact on the country.”
In 2021, Sotto, together with Senate President Pro Tempore Panfilo Lacson, former Senator Gringo Honasan, and energy expert Ed Mañalac, proposed to then-President Rodrigo Duterte a joint oil exploration initiative with China in the West Philippine Sea.
He noted that the plan aligned with his current push for the Philippine Strategic Petroleum Reserve Act, which seeks to establish government-owned and managed oil storage facilities.
“Sa buong mundo, bakit sa Pilipinas lang walang oil? … Pinopropose pa namin yan, panahon ni President Duterte, Sen Honasan, Sen Lacson, pinuntahan namin si Pres. Duterte, sabi namin, pumasok tayo sa joint venture ng oil exploration sa West PH Sea, so gusto niya, pero ewan ko yung mga kasama niya, hindi natuloy eh,” Sotto recounted.
He emphasized that his legislative proposals are focused on protecting Filipinos from excessive taxation on essential commodities like fuel and other petroleum products.