Senate Minority Leader Koko Pimentel III called on the government to provide a “lifeboat” to the countless Filipinos struggling with the skyrocketing fuel prices.
“Nakakalunod na ang presyo ng krudo. Kailangan ng ‘lifeboat’ ng ating mga kababayan,” Pimentel said.
The veteran legislator issued the statement as Filipinos, especially public utility drivers, commuters and even business operators, grapple with relentless oil price hikes.
“Every week, our fellow Filipinos face the challenge of ever-increasing fuel prices. They need a lifeline now.”
“Every week, our fellow Filipinos face the challenge of ever-increasing fuel prices. They need a lifeline now. I hope the government understands the gravity of the situation and the urgency of intervention to alleviate their hardship,” the seasoned lawmaker emphasized.
“Ang pagtaas ng presyo ng krudo ay papasanin pa rin sa bandang huli ng bawat isang Pilipino. The rising cost of crude oil will ultimately be borne by every Filipino because it leads to increased prices of goods, electricity, and more,” the senator added.
If the sky-high prices of fuel products are not promptly addressed, the country can expect inflation rates to soar, further impacting the economic well-being of every Filipino, he said.
Pimentel said he is open to proposals to suspend the excise tax on imported oil and bio-ethanol as immediate measures to bring down the prices of fuel in the country.
“The suspension of the excise tax could offer a temporary respite and serve as an effective lifeboat for Filipinos struggling to cope with the sky-high fuel prices.”
“The suspension of the excise tax could offer a temporary respite and serve as an effective lifeboat for Filipinos struggling to cope with the sky-high fuel prices,” he said.
Oil firms raised their prices recently by P2 per liter for both gasoline and kerosene, with a more significant increase of P2.50 per liter for diesel.
For 11 consecutive weeks, the cumulative hikes in diesel and kerosene prices have reached P17.30 and P15.95 per liter, respectively.
Meanwhile, the total increase in gasoline prices over 10 straight weeks has summed up to P11.85 per liter.
“From daily commuters to business operators, the skyrocketing prices of fuel products have impacted the everyday lives of the citizens,” Pimentel concluded.
