THE Division of Power (DOE) mentioned it’s backing one other suspension of the excise tax of gas merchandise to handle the rising oil costs.
DOE Oil Trade Administration Bureau Assistant Director Rodela I. Romero mentioned they already made the proposal in a number of technical working teams conferences.
“Whether it is non permanent, perhaps it could possibly be suspended. However that is already with Congress, the place it’s below research,” Romero mentioned in a televised interview on Wednesday.
The measure, she mentioned, might assist the transportation sector, which is at the moment reeling from the results of the continued worth improve in petroleum merchandise.
As of final Monday, DOE’s monitoring confirmed gasoline costs rose by P6.75 per liter.
It attributed the worth hike to the continuing geopolitical tensions within the Ukraine-Russia border, which is affecting worldwide gas provides.
To handle future uncertainty in gas provides, Romero mentioned DOE is continuous to push for the creation of the nation’s strategic petroleum reserves (SPR).
She mentioned the feasibility research for this system to determine the gas stockpile remains to be pending because of the failed public bidding to safe the consultancy agency which can conduct it.
Romero mentioned the phrases of reference for the mentioned contract bidding is at the moment below evaluation.
Picture credit: Nonie Reyes