The House of Representatives will discuss the suspension of excise tax on petroleum products, insisting on finding a &lsquo;win-win&rsquo; solution to the continuous oil price hike, in a meeting with oil companies on Monday, September 18.
In a report by RH 12 Milky Rigonan, House Speaker Martin Romualdez said that the consecutive increase in oil prices, apart from the increase in basic commodities, is very difficult for the people of the town.
Included in the consultative meeting are the members of the House Committee on Energy, officials of the Department of Energy (DOE), as well as officials from Shell, Chevron, Petron, Flying V, and the Philippine Petroleum Companies Association, among others.
According to Romualdex, one possibility caused by Congress is to suspend the collection of the excise tax, or "VAT on oil and petroleum products."
He said that it depends on Malacaang's plan and when their report is heard as a result of the meeting with the oil companies.
Meanwhile, the House Speaker also plans to talk with manufacturers of canned goods and basic foods as well as supermarket associations, as a result of a plan to increase the price of their goods due to the high price of petroleum products.
Romualdez will ask not to raise the price of its goods until after the holiday season.

It seems that the simultaneous increase in the price of goods is already too heavy on the pocket, which will be followed tomorrow by another oil price increase.

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Congress to discuss suspension of excise tax on petroleum