Taas-presyo sa kada litro ng diesel sa susunod na linggo, posibleng umabot sa mahigit... | 24 Oras

Oil industry sources predict a substantial increase in fuel prices next week, with diesel possibly rising by over Php15 per liter and gasoline by more than Php7 per liter. This is attributed to the conflict in the Middle East.

The Department of Energy (DOE) is monitoring global crude prices but refrains from giving an exact estimate of next week's hike to avoid public panic. They assure that the price increase will not be implemented all at once and the government has relief measures like fuel discounts.

The Senate and House of Representatives are seeking to grant President Bongbong Marcos emergency powers to suspend excise taxes on petroleum products to alleviate price increases. Current excise taxes are Php10 per liter for premium/unleaded gasoline and Php6 per liter for diesel.

Senator Bam Aquino's proposal allows the President to suspend excise taxes during national emergencies. Senator Joel Villanueva suggests suspension when crude prices exceed $80 per barrel. Representative Toby Chanco proposes suspending the Value Added Tax (VAT) on petroleum products.