By Darryl John Esguerra
MANILA – President Ferdinand R. Marcos Jr. is expected to make a swift decision on the possible cut or suspension of fuel excise taxes after receiving the recommendation of the Development Budget Coordination Committee (DBCC), Malacañang said on Wednesday.
Palace Press Officer Claire Castro said the DBCC study has been completed and the recommendation was submitted to Marcos on Tuesday.
“Sa ngayon po ay tapos na po ang pag-aaral. May rekomendasyon na po na ibinigay sa Pangulo. So, magkakaroon po ito ng pagpapasya nang mas mabilisan (The study has now been completed. A recommendation has been given to the President, so a decision will be made faster,” Castro said.
Castro, however, declined to disclose details of the recommendation, saying the public should wait for Marcos to announce the decision once the recommendation has been acted upon and signed.
The proposed suspension is being considered amid elevated fuel prices and their potential impact on consumers and the broader economy.
The DBCC’s review follows the Department of Energy’s formal certification that the one-month average price of Dubai crude reached USD99.41 per barrel from Aug. 13 to Sept. 11, well above the USD80-per-barrel threshold under Republic Act 12316 for possible suspension or reduction of fuel excise taxes.
Under Republic Act No. 12316, the President may, upon the recommendation of the DBCC and in coordination with the Energy Secretary, suspend or reduce excise taxes on specified petroleum products when the one-month average Dubai crude price reaches or exceeds USD80 per barrel. The relief may be granted for up to three months per instance.
Last April, Marcos invoked his power to suspend excise taxes on LPG and kerosene following the DBCC recommendation. Taxes were restored in July after oil prices fell below the statutory threshold.