On the Continued Increase In Oil Prices

21 October 2021 / 07:42 PM

On the Continued Increase In Oil Prices

The TRAIN Law that we passed a few years ago provides that the Department of Finance (DOF) may suspend the implementation of the increase of the excise tax on fuel upon the recommendation of the Development Budget Coordination Committee (DBCC) under certain conditions.

I therefore urge the DOF Secretary to exercise that option under the law, given the unabated increase of the prices of fuel resulting in a heavy burden on the transport sector and the public in general.

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