Hontiveros favors review of Oil Deregulation Law

Senator Risa Hontiveros on Monday supported a review of the Oil Deregulation Law, a move which was proposed by President Rodrigo Duterte last week amid rising fuel prices.

“Maybe even more than revisiting the Oil Price Stabilization Fund, i-review namin sa Kongreso at malamang amyendahan ‘yung Oil Deregulation Law,” Hontiveros said in an ANC interview.

(We should review and maybe amend the Oil Deregulation Law in Congress.)

“Baka panahon na at the very least amyendahan ‘yan and come up with a more proactive and pro-Filipino oil regulation law para kahit pumalo ‘yung presyo ng langis in the international market over which we have no control… kahit paapano there are some form of protection tayong mga Filipino,” she added.

(Maybe it's about time that, at the very least, we amend and come up with a more proactive and pro-Filipino oil regulation law so that even if oil prices increase in the international market, over which we have no control, we have some form of protection for Filipinos.)

Hontiveros also renewed her opposition to the excise taxes imposed by the government under the Tax Reform for Acceleration and Inclusion Law (TRAIN) Law.

“I’m repeating my call during the [then-TRAIN] bill debates… Suspend the excise tax out of humanitarianism towards our consumers and our drivers, for example, at gamitin ang nakolekta in (and use the revenues collected over) the past couple of years para saluhin muna ng gobyerno ang (for the government to cover the) operational cost ng (of) transport, ng delivery services,” she said.

Hontiveros also expressed support for a government fuel subsidy program.

“Let’s move the money around properly, in a timely fashion para saluhin ang (so we can subsidize the) hardest hit and to prevent more economic harm to our people,” she proposed.

Last week, Malacañang called on Congress to review the oil deregulation law amid the weekly increases in oil prices and the ongoing situation in Ukraine that is expected to have an economic impact on the Philippines.

However, Senate President Vicente Sotto III said there was only a “slim” chance of a review of the Oil Deregulation Law in the 18th Congress unless Duterte calls for a special session.

Congress had adjourned session last February 4 and would only resume by May 23 or after the May 9 national and local elections. The break was for the campaign period for the candidates.

The biggest oil price hike so far this year is set to be implemented on Tuesday.

In a separate statement, Senator Joel Villanueva said the government could consider reducing or removing the excise taxes for gasoline as a temporary measure to help consumers amid rising fuel prices.

“Let's carefully study the next steps regarding excise tax for gasoline. On one hand, we can reduce or remove it for the meantime so that we would take some of the burden off our consumers. On the other hand, we can increase fuel subsidies corresponding the increase in excise tax collection,” he said.

Villanueva likewise called for the “immediate and efficient” distribution of fuel subsidies for the transport sector as well as the agriculture and fisheries industry.

“Let's find ways to save on gasoline consumption. It's a good thing we were able to pass the Telecommuting or Work From Home Law to address the hardships of everyday commute to work. Let's give solutions to Filipino workers so that we can all continue working despite the crisis,” he said.— DVM, GMA News