fuel consumers
AUTOMATIC SUSPENSION OR REDUCTION OF EXCISE TAX ON FUELS
This bill allows the President to automatically suspend or reduce excise taxes on fuels when global oil prices exceed USD 80 per barrel, aiming to provide timely relief to consumers during price surges.
AUTOMATIC SUSPENSION OF EXCISE TAXES ON PETROLEUM PRODUCTS
This bill aimed to amend the National Internal Revenue Code to allow for the automatic suspension of excise taxes on regular gasoline, unleaded premium gasoline, and diesel during periods of sharp price increases or supply disruptions.
INSTITUTIONALIZING TRANSPARENCY IN THE PHILIPPINE DOWNSTREAM OIL INDUSTRY
This bill aims to institutionalize transparency in the Philippine downstream oil industry by amending the Downstream Oil Industry Deregulation Act. It empowers the Department of Energy to require oil companies to disclose the actual cost components of fuel prices when the average price of Dubai crude oil reaches or exceeds USD 80 per barrel.