BICOL Saro party-list Rep. Terry L. Ridon on Tuesday welcomed the passage of a measure authorizing the President to suspend or reduce excise taxes on petroleum products during periods of national or global economic emergency, saying it demonstrates the government’s readiness to respond to rising fuel costs amid global uncertainty.
Ridon, a member of the House Committee on Ways and Means and chairperson of the House Committee on Public Accounts, said the proposed legislation would allow government to act swiftly in protecting consumers from the impact of volatile oil prices.
“We strongly welcome the passage of the proposed measure authorizing the President to suspend or reduce excise taxes on petroleum products during periods of national or global economic emergency,” Ridon said.
“This legislation represents a timely and decisive response by Congress to the growing volatility in global oil markets. With tensions in key petroleum-producing regions threatening to disrupt global supply and push fuel prices higher, the Philippine government must have the necessary tools to respond quickly and decisively to protect Filipino consumers,” he added.
Ridon said the measure underscores the legislature’s commitment to cushion the economic impact of fuel price hikes on ordinary Filipinos.
“As Member of the House Ways and Means Committee and Chair of the House Committee on Public Accounts, this measure demonstrates the legislature’s clear commitment to the public good. It ensures that government can immediately intervene when global crises threaten to drive up fuel prices and worsen the economic burden on ordinary Filipinos,” he said.
He also urged the President to declare a state of national emergency once the measure becomes law so that relief measures can take effect as soon as possible.
“Once this measure is signed into law, we respectfully urge the President to immediately declare a state of national emergency so that the suspension or reduction of excise taxes on petroleum products can take effect in the soonest possible time,” Ridon said.
“Such a declaration will allow the government to provide immediate relief to sectors most affected by rising fuel costs, including farmers, fisherfolk, public transport operators, small businesses, and low-income households,” he added.
Ridon described the coordinated action between the Executive and Legislative branches as a significant step in addressing the impact of global developments on the local economy.
“This joint action by both the Executive and the Legislature is historic and unprecedented. It reflects a strong and unified commitment by the government to respond decisively to an international crisis that directly affects the welfare of the Filipino people,” he said.
He noted that earlier legislation allowed the suspension of fuel excise taxes only within a limited timeframe and required months before government action could be triggered.
“Under previous legislation, the suspension of fuel excise taxes was limited to a time-bound mechanism between 2018 and 2020 and depended on the average three-month pricing of crude oil based on MOPS (Mean of Platts Singapore) before government action could be triggered. That framework meant that Filipinos had to wait months before relief measures could be implemented,” Ridon said.
According to the lawmaker, the new measure gives the president greater flexibility to respond to extraordinary global developments affecting energy prices.
“This new measure ensures that the nation will no longer have to wait for three months before government action can be undertaken on rising petroleum prices. Instead, it empowers the President to act swiftly during extraordinary circumstances, ensuring that the government’s response is immediate, responsive, and attuned to the realities of the global energy market,” he said.
“At a time when global uncertainty continues to threaten economic stability, this measure proves that the Philippine government is prepared to act quickly and decisively in defense of the welfare of the Filipino people,” Ridon added.
