Sen. Bam Aquino has issued a strong call for government transparency and vigilance over oil companies to ensure that the newly passed excise tax suspension directly benefits the Filipino people.
Speaking on the urgent need for economic relief, Aquino emphasized that the legislative win in the chamber of Congress must translate to lower prices at the pump upon signing into law.
“Unang-una napasa na sa Senadoyung suspension ng excise tax. So kailangan mapatupad ito. Makita ng taong bayan na bababa yung presyong diesel at gasolina sa mga gasoline station. Tulong po ito sa mgamotorista, tulong po ito sanapakaraming Pilipino dahil alam po natin, habang tumataas ang presyong diesel at gasolina, eh posible pong tataas din yung presyo ng bilihin. Kaya itong suspension ng excise tax, mahalaga po talaga na mapatupadna,” he said.
Aquino’s primary concern remains the vulnerability of micro, small, and medium enterprises (MSMEs), and the transport sector, which serve as the country’s largestemployers. He warned that the current geopolitical climate requires government responsiveness to prevent business closures.
“Kailangan po ng tulong sa atingtransport workers, kailangan po ng tulong sa mga maliliit na negosyodahil karamihan po ng Pilipino ditopo nagtatrabaho. Huwag natinpayagang magsara yung mga MSMEs natin sa dinami-daming ayuda naating pong napondohan for 2026. Ngayon po yung panahon na i-ready na po yan, handa na po yan para masigurado natin na walang negosyoang magsasara,” he said.
While the Middle East crisis presents a different challenge than the pandemic, Aquino emphasizes that the goal remains the same to keep the economy, schools, and businesses open through proactive governance.
“Iba po ito sa pandemya… Pero yung mahalaga, panatilihin po natin bukasang mga negosyo, bukas ang mgaeskwelahan, at handa, responsive and effective ang gobyernopagdating sa tulong na hinahanap ng taong bayan,” he emphasized.
The path to relief has been solidified as the House of Representatives recently adopted Senate Bill No. 1982 as an amendment to House Bill No. 8418. This alignment bypasses the need for a bicameral conference committee, sending the “enrolled copy” straight to the President’s desk for signature.
Under SB 1982, the President is authorized to suspend or reduce excise taxes when the average price of Dubai crude oil reaches or exceeds $80 per barrel for one month.Motorists could see a decrease of approximately P10.00 per liter for dieseland P7.00 per liter for gasoline. The law is designed to be temporary and time-bound to ensure fiscal stability once global prices stabilize.
The senator, who has long been a critic of the excise tax since its inception under the TRAIN Law, vowed that the Senate would use its oversight powers to monitor oil companies.
” I was against the excise tax nunguna itong pinasok sa Senado in my first term because of the TRAIN Law. At itong pag-suspend nito, we’re hoping na magamit ito ng Presidentepara makatulong sa mga motoristanatin… Mahalaga rin na mabantayannatin yung mga oil companies. Kasi kahit tanggalin yung excise tax, kailangan masiguro natin na magre-reflect ito sa mga presyo sagasolinahan,” he said.
Aquino confirmed that the Senate is studying a balanced approach where the government carries a larger percentage of the burden than employers to protect MSMEs and committed to support a wage increase.
Sen. Aquino also highlighted a common frustration among Filipinos and urges the Senate to perform its oversight function.
“On our end, we will be monitoring itong excise tax suspension… Kasi sabi nga eh, yung pagtaas, past end of your use. Pero yung pagbaba, eh napakabagal. So ito, this can be a significant decrease and we need to make sure na makikita yan ng tao,” he concluded.
