By Sheldeen Joy Talavera, Reporter
RENEWED UPWARD PRESSURE on global oil prices has revived calls for the Philippine government to suspend excise taxes on petroleum products, although experts remain divided on whether such a move would be effective.
This comes as fuel retailers are expected to hike diesel prices by as much as P10.50 per liter and gasoline prices by as much as P4 per liter this week.
“At this point, I would not immediately recommend suspending the fuel excise tax,” Jonathan L. Ravelas, a senior adviser at Reyes Tacandong & Co., told BusinessWorld.
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