SEN. Bam Aquino urged the government anew on Saturday to suspend excise taxes on petroleum products as Dubai crude oil prices remained above the $80-per-barrel threshold for more than a month.
”The price of Dubai crude oil has remained above $80 per barrel for more than 30 days. The administration must take action and immediately suspend the excise tax on petroleum products,” Aquino said, noting this could be done under Republic Act 12316, which authorizes the president to suspend or reduce fuel excise taxes when the average price of Dubai crude reaches or exceeds $80 per barrel for one month.
As of Sept. 10, Dubai crude was priced at $116.42 per barrel.
Aquino, chairman of the Senate Committee on Trade, Commerce and Entrepreneurship, said the tax suspension would provide relief to motorists, commuters, workers and small businesses grappling with higher fuel prices.
He noted that rising oil costs could drive up transportation fares and the prices of basic commodities, further squeezing household budgets.
”This will ease the burden on our fellow citizens caused by high oil prices, which also drive up the cost of basic commodities,” he said.
The LPG Marketers’ Association Party-list has made the same call amid elevated petroleum prices.
Aquino urged Congress to act on Senate Bill (SB) 265, which he filed on July 8, 2025, seeking to remove the excise tax on petroleum products.
The proposal would eliminate the excise tax on petroleum products, potentially reducing the tax component of fuel prices.
Aquino also filed SB 2017, which seeks to reduce the value-added tax from 12 percent to 10 percent on goods and services, including petroleum products.
