The bible of Philippine politics

Additional fuel tax will exacerbate prices of basic goods, says Lagman

555

By JOHN CARLO M. CAHINHINAN

Albay Rep. Edcel Lagman has warned that pushing through with the scheduled tax increases in fuel products next year would further increase the cost of basic goods.

Lagman made the statement following President Duterte’s approval of the higher fuel excise tax next year as recommended by the economic team.

He any new imposition of increased excise taxes in oil would really “exacerbate the inflation situation.”

“Any increase in the price of fuel over and above what is due has tremendous effects on the prices of oil, on prices of basic food commodities, as well as on employment,” he said.

Lagman earlier described the TRAIN Law imperative on fuel products as a “flawed policy” for an oil-importing country like the Philippines since even oil producing nations are giving subsidies to maintain at low levels the pump prices of gasoline to protect consumers.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy