By Glazyl M. Jopson
BACOLOD CITY — The Negros Occidental provincial government has expressed full support for President Ferdinand Marcos Jr.’s plan to seek emergency powers that would allow the national government to reduce excise taxes on petroleum products if global oil prices spike amid the escalating crisis in the Middle East.
Gov. Eugenio Jose Lacson said in a statement that the proposed measure is a prudent and proactive step in addressing possible economic shocks.
“By providing the national government with the flexibility to temporarily adjust fuel excise taxes, we ensure that the government has the necessary tools to respond swiftly and decisively to protect the welfare of our people during times of global instability,” Lacson said.
Earlier, Marcos said he may seek emergency powers from Congress to reduce fuel excise taxes if the conflict in the Middle East continues and pushes global oil prices higher.
Lacson noted that the Philippines, like many countries, remains vulnerable to external shocks in the global energy market.
With rising tensions threatening to push crude oil prices beyond the USD 80-per-barrel threshold, he said, granting the national government authority to adjust fuel excise taxes would provide a crucial policy tool to respond quickly and cushion the impact on Filipino consumers, particularly those in the transport, agriculture, and other essential sectors.
The governor also commended the president for taking early action to mitigate the potential economic effects of global instability.
At a time when geopolitical tensions threaten economic stability worldwide, Lacson stressed that preparedness and responsiveness are essential.
The provincial government added that it stands ready to support national efforts aimed at protecting the welfare of the people and easing the burden of rising fuel costs.
Meanwhile, in a media interview on Monday, Lacson urged gasoline stations to act with conscience as the country continues to face the effects of the recent oil crisis.
He said the Department of Energy had assured the public that the country has enough fuel supply for two months based on current inventory. (GMA Network)
Prices are expected to increase after two months, but they have already been rising weekly, he added.
Despite the explanation from concerned government agencies, Lacson noted that many people may not understand why that is so.
“The reality is prices have been going up every week. I think more than ever, we need to pray very hard as this Middle East situation may get out of hand, and even worst spread all over the world. We hope that will not happen,” the governor said.
Police in the Negros Island Region have strengthened monitoring of fuel supply to prevent opportunistic crimes, hoarding, illegal selling and profiteering.
Police Lt. Col. Joem Malong, spokesperson for the Police Regional Office-Negros Island Region, said they had not received any reports of hoarding as of this writing.
