Rep. Francisco “Kiko” Benitez delivering his state of the district address at the Magikland Event Center in Silay City on Saturday, June 18.*Ronnie Baldonado photo
Rep. Francisco “Kiko” Benitez (Neg. Occ., 3rd District) said on Saturday, June 18, that the Lower House is pushing for fuel and fertilizer subsidies for farmers amid the rising prices of farm inputs.
Benitez noted that there has been a drop in sugar production due to increasing fuel and fertilizer costs.
Oil firms are expected to implement another increase in the prices of fuel products on Tuesday, June 21.
Prices of diesel may increase by P2.50 to P2.60, while gasoline prices may go up by P0.50 to P0.60 per liter, Unioil Petroleum Philippines said.
As of June 14 the prices of gasoline have gone up by P28.70 per liter, P41.15 for diesel, and P37.95 for kerosene since the start of 2022, the Department of Energy reported.
The question is how the Sugar Regulatory Administration will manage sugar importation, Benitez said.
Benitez said the lowering of excise tax on fuel is a very difficult issue.
There has to be a balancing act between government revenues versus the kind of economic engine that is generated by putting more money in people’s hands by removing the excise tax as a way to mitigate inflation, he said.
The new Department of Finance secretary will have to study the matter, he said.*