Manila: The Senate approved on Tuesday a measure granting the President authority to suspend excise taxes on petroleum products, amid rising global oil prices. Senate Bill No. 1982 was approved with 17 affirmative votes, zero negative, and zero abstentions.

According to Philippines News Agency, sponsor Senator Pia Cayetano said the measure underwent extensive discussions, including caucuses and hearings, to ensure safeguards are in place for consumers. She emphasized that the bill was not rushed despite its certified status, highlighting the importance of assessing the measure thoroughly to ensure benefits for Filipinos. Cayetano noted that provisions were strengthened, particularly on reportorial requirements for oil companies, to ensure that reductions in taxes translate to lower pump prices.

Senator Sherwin Gatchalian, in his explanation of the vote, acknowledged the fiscal impact of the measure but said the government must act to ease the burden on consumers. He mentioned that suspending the excise tax could lead to a PHP135 billion loss if it is suspended for eight months, but emphasized that the government is making sacrifices to help the people. Gatchalian stressed that oil companies should also ensure that price reductions are passed on to consumers.

Senator Risa Hontiveros, who voted in favor of the measure, said it would provide short-term relief but emphasized the need for complementary interventions. She advocated for immediate relief paired with a call for deeper and more effective solutions. Hontiveros suggested the tax suspension should be accompanied by a supplemental budget and direct subsidies for affected sectors such as transport workers, farmers, and fisherfolk. She also warned against potential revenue losses that could impact funding for social services, including health and education.

Meanwhile, Senate President Pro Tempore Panfilo 'Ping' Lacson pushed for a shorter period to trigger the suspension or restoration of excise taxes, suggesting a two-week averaging period for global oil prices. Lacson noted the importance of quicker relief amid global conditions and highlighted the need to balance revenue losses, which could reach at least PHP136 billion in 2026.