Agustin, Eunice G.

BSA-IA

NEWS UPDATES
DECEMBER 01, 2018

(1) Senators Oppose 2nd Tranche of Fuel Excise Tax

According to the report of Sherrie Ann Torres, several senators expressed their objection
to the government economic team’s call of its earlier decision of suspending the second
tranche of excise tax on petroleum.
They stated that economic managers mentioned in the previous reports few days ago they
would like to recommend the second round of implementation of fuel excise taxes after
the world oil prices fell from 80 dollars per barrel. Now they had this recall of such
commitment because they proved that they must aid the people especially the poor.
In an interview with Senator Sherwin Gatchalian, he urged President Duterte to push
through with the suspension. He said, “Nakakatuwa na sunud-sunod ang pagbaba ng
presyo ng langis pero kailangan pa din nating tandaan na hindi pa rin bumababa ang
pamasahe at food prices sa levels before TRAIN was implemented. They remain elevated
by an average of 50% kaya patuloy pa ring nahihirapan ang publiko”. Moreover he stated
that, “suspending excise tax on fuel would still give relief to micro, small, and medium
enterprises that borrowed money because of the fast inflation this year to pay off their
debts”.
Well let’s think that the economic managers have variety of reasons why they changed
their decision.

(2) US-China trade war to benefit PH Markets

“hilippine Market get to react to the G20 Summit next week as the Philippine Stock
Exchange is close Friday due to the Bonifacio Day Holiday. But other factors are seen to
influence next week, including the inflation figures in November” – Business Nighty,
ANC

(3) Some Jeepney Drivers are worried that the prices of Petroleum will suddenly
increase
Some Jeepney Drivers are worried that the prices of Petroleum will suddenly increase
and primary goods will also continue to increase because of the additional excise tax
impose on the crude product. However the government gave assurance to the jeepney
drivers that they will give assistance to them, as well as the unconditional cash transfer
next year.

(4) Consumers fear repeat of runaway inflation amid fuel excise tax hike
“The Philippine economic managers move to recommend pushing through the second
tranche of fuel excise taxes next year are leaving consumers wary that the possible tax
hike might lead to faster inflation”. --- Business Nighty, ANC