WITH the global oil market remaining volatile, a lawmaker on Tuesday reiterated his call for a review of the government’s energy policies to develop long-term solutions that would reduce the country’s dependence on oil and protect Filipinos from rising petroleum prices.
Party-list Rep. Jose Manuel Diokno of Akbayan underscored the need to review the government’s energy initiatives, including the Philippine Energy Plan (PEP) 2023-2050, as stated in his House Resolution 875.
This came after President Marcos issued Executive Order 125, which temporarily suspended excise taxes on liquefied petroleum gas (LPG) and kerosene following the increase in fuel prices.
The order suspended the excise tax on LPG, except when used for the production of petrochemical products or as fuel for vehicles, and on kerosene, except when used as aviation fuel.
‘Now that oil prices continue to rise due to events in the Middle East that are beyond our control, we must carefully examine how we can reduce our dependence on imported oil and strengthen our energy security,’ Diokno said.
‘Suspending the excise tax is only a temporary solution. We need long-term measures and policies to ensure that the country has a sufficient and reliable energy supply,’ he added.
He said the government must pursue a clear and comprehensive energy strategy that would strengthen domestic energy sources, diversify the country’s energy mix, and reduce the impact of global oil price shocks on Filipino consumers.
‘We are also pushing for the strengthening of our renewable energy sources, such as solar and wind, so that we will no longer rely solely on oil-based energy and can have more alternative sources of power,’ Diokno said.
‘Our resolution also seeks to examine whether the government’s measures to mitigate the impact of rising oil prices on consumers and various sectors, such as public transportation, are actually effective,’ he added.
According to Diokno, changes in oil prices also lead to higher costs of goods and other commodities, placing an additional burden on Filipino consumers, workers, and businesses already coping with economic uncertainties.
‘With every increase in oil prices, the cost of goods also rises, adding more burden to our fellow Filipinos, businesses, and workers who are struggling to make ends meet,’ he underscored.