{"id":2448,"date":"2026-03-04T08:22:25","date_gmt":"2026-03-04T08:22:25","guid":{"rendered":"https:\/\/cibacpartylist.org\/?p=2448"},"modified":"2026-03-04T08:22:36","modified_gmt":"2026-03-04T08:22:36","slug":"cibac-rep-bro-eddie-villanueva-files-bill-allowing-temporary-suspension-of-fuel-excise-tax-amid-global-oil-price-surge","status":"publish","type":"post","link":"https:\/\/cibacpartylist.org\/?p=2448","title":{"rendered":"CIBAC REP. BRO. EDDIE VILLANUEVA FILES BILL ALLOWING TEMPORARY SUSPENSION OF FUEL EXCISE TAX AMID GLOBAL OIL PRICE SURGE"},"content":{"rendered":"\n

<\/p>\n\n\n\n

CIBAC Party-List Representative Bro. Eddie Villanueva is pushing for the passage of House Bill No. 8261, a measure that would allow the temporary suspension of excise taxes on gasoline and diesel once global crude oil prices reach USD 80 per barrel.<\/p>\n\n\n\n

The bill amends Section 148 of the National Internal Revenue Code to establish a trigger-based mechanism tied to the average Dubai crude oil price, based on the Mean of Platts Singapore (MOPS) or other internationally recognized benchmarks.<\/p>\n\n\n\n

Rep. Villanueva said the measure comes amid renewed volatility in global oil markets driven by geopolitical tensions and threats to key shipping routes, developments that have already led to domestic pump price hikes and inflationary pressure.<\/p>\n\n\n\n

\u201cThe purpose of this bill is to provide a fiscal tool and mechanism that allows for the temporary suspension or reduction of excise taxes when global crude price benchmarks reach levels that pose significant inflationary risk to the Philippine economy,\u201d he said.<\/p>\n\n\n\n

He stressed that the proposal does not mandate automatic tax removal. Any recommendation must be based on inflationary pressures, consumer price impact, fiscal position and revenue implications, macroeconomic stability, and the presence of extraordinary geopolitical or supply disruptions.<\/p>\n\n\n\n

The measure also provides that any suspension or reduction must specify its duration and will automatically lift once average Dubai crude prices fall below USD 80 per barrel for at least 30 consecutive days. The Department of Finance is required to submit a report to Congress detailing the economic and fiscal basis for its recommendation.<\/p>\n\n\n\n

\u201cThis approach aligns public fiscal policy with real-world market conditions, protecting consumers and the broader economy from rapid fuel price inflation while preserving the State\u2019s ability to safeguard revenue and macroeconomic stability,\u201d Rep. Villanueva ended.#<\/p>\n","protected":false},"excerpt":{"rendered":"

CIBAC Party-List Representative Bro. Eddie Villanueva is pushing for the passage of House Bill No. 8261, a measure that would allow the temporary suspension of excise taxes on gasoline and diesel once global crude oil prices reach USD 80 per barrel. The bill amends Section 148 of the National Internal Revenue Code to establish a […]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"templates\/template-cover.php","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-2448","post","type-post","status-publish","format-standard","hentry","category-press-release"],"yoast_head":"\nCIBAC REP. BRO. 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