{"id":184925,"date":"2018-10-10T01:25:01","date_gmt":"2018-10-10T05:25:01","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=184925"},"modified":"2018-10-10T01:25:01","modified_gmt":"2018-10-10T05:25:01","slug":"duterte-open-suspending-excise-tax-oil","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/10\/10\/duterte-open-suspending-excise-tax-oil\/","title":{"rendered":"Duterte open to suspending excise tax on oil"},"content":{"rendered":"
\"\"<\/a>
FILE: President Rodrigo Roa Duterte, in his speech during the oath-taking of the new Career Executive Service Officers (CESOs), the conferment of the 2017 Gawad Career Executive Services (CES), and the 2018 Outstanding Government Workers Awards Rites at the Rizal Hall of Malaca\u00f1an Palace on September 27, 2018, reiterates that he continues to work on fulfilling his promise of getting rid of corruption in the government. RENE LUMAWAG\/PRESIDENTIAL PHOTO<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0— Suspending excise tax on oil products is an option being considered to ease inflation, President Rodrigo R. Duterte said on Tuesday.<\/p>\n

\u201cMaybe,\u201d Duterte told reporters after administering the oath of new officers of the Malaca\u00f1ang Press Corps in Malaca\u00f1ang.<\/p>\n

Duterte\u2019s economic managers earlier said the rising prices of petroleum products is the main contributor to the inflation surge.<\/p>\n

\u201cKaya kita mo pag sabi<\/em>\u00a0price increase, kinabukasan ang pandesal, susunod \u2018yan. \u2018Pag sinabing price increase sa oil is now 154 or 156 per barrel. Tataas lahat \u2018yan (When you say price increase, the next day pandesal will be next. When you say price increase in oil is now 154 or 156 per barrel. Everything will go up),\u201d Duterte said.<\/p>\n

Under the Tax Reform for Acceleration and Inclusion (TRAIN) law, the government can suspend the implementation of the higher excise tax if oil prices in the world market will hit USD80 per barrel.<\/p>\n

The President, meanwhile, lamented anew that the Philippines did not have its own oil production and relied on supply from oil-producing nations.<\/p>\n

\u201cAng<\/em>\u00a0Indonesia,\u00a0may<\/em>\u00a0reserve. Malaysia,\u00a0may<\/em>\u00a0reserve.\u00a0Tayo, wala.<\/em>\u00a0So every time\u00a0magbili tayo ng gasolina<\/em>, we use our savings (Indonesia has a reserve. Malaysia has a reserve. Us, we don\u2019t. So every time we buy gas, we use our savings),\u201d Duterte said.<\/p>\n

Aside from the possible suspension of the excise tax on oil, Duterte earlier issued three directives to concerned government agencies in an effort to cushion the impact of oil price hikes on Filipinos.<\/p>\n

He ordered the Department of Trade and Industry (DTI) to monitor and arrest traders who take advantage of the oil price hike by raising prices further, the Department of Labor and Employment (DOLE) to meet and consider raising minimum wage, and the Department of Energy (DOE) to import cheaper oil products from countries that are not members of the Organization of Petroleum Exporting Countries (OPEC), such as Russia.<\/p>\n

At present, the Philippines sources fuel from OPEC-member states.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— Suspending excise tax on oil products is an option being considered to ease inflation, President Rodrigo R. Duterte said …<\/p>\n","protected":false},"author":44,"featured_media":183354,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,95],"tags":[],"class_list":["post-184925","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-news-ph","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/184925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=184925"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/184925\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/183354"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=184925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=184925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=184925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}