Senator Bam Aquino has called on the government to trigger the safeguard mechanism under the Tax Reform for Acceleration and Inclusion (TRAIN) Law that allows the automatic suspension of excise taxes on fuel once global oil prices surpass $80 per barrel.
Aquino said the provision, which he authored, automatically halts excise tax collection on petroleum products if the average world oil price reaches $80 per barrel for three consecutive months.
“Sa isinulong nating safeguard sa TRAIN Law, pinapayagan ang automatic suspension ng pangongolekta ng excise tax sa langis kapag lumampas sa $80 kada bariles ang presyo ng langis sa world market,” Aquino said.
He added that the suspension could help reduce the burden of rising oil prices triggered by escalating tensions in the Middle East.
“Makatutulong ang suspension na ito para mabawasan ang bigat ng inaasahang pagtaas ng presyo ng langis dahil sa kaguluhan sa Middle East,” he said.
Aquino warned that surging fuel costs could trigger a domino effect, driving up prices for food and other essential goods, further straining Filipino households.
He is expected to file a Senate resolution pushing for the activation of the safeguard mechanism.
In the 20th Congress, Aquino filed Senate Bill No. 265 seeking to abolish excise taxes on diesel, kerosene, LPG, fuel oil, and unleaded gasoline under the TRAIN Law.
“These taxes have contributed to higher fuel prices, which in turn cascade into increased costs for goods and services, disproportionately affecting low- and middle-income Filipinos,” Aquino said.
He emphasized that the measure, once enacted, would provide tangible relief for commuters and drivers, especially those using diesel-powered jeepneys, buses, and delivery vehicles.
It would also ease household expenses for cooking fuel and lighting in off-grid communities, while reducing operational costs for producers and small businesses.
“It will also help stabilize prices of basic goods and services amid persistent inflationary pressures,” Aquino added.
The senator’s call highlights growing concern over rising global oil prices and their ripple effects on local transportation, consumer goods, and overall cost of living.
Photo from Aquino’s Office
