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Date Published:

12:01 PM November 14, 2018

Date Updated:

12:01 PM November 14, 2018

in: Breaking News
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Proposed P2 Oil Tax Hike Suspension Approved, Says Diokno

P2 OIL TAX HIKE – Department of Budget and Management (DBM) Secretary Benjamin Diokno expressed that the proposed P2 oil tax hike suspension was approved.

Undeniably, lots of people now are alarmed by the increasing prices of goods and basic commodities and services in the Philippines. For several months, the inflation continues to speed up which alarms the people.

The prices of several goods and services now aren’t the same anymore and have huge gaps compared to their costs then. Even the standard fare in jeepneys and buses have changed due to the increase in fuel price.

Sadly, lots of Filipino families experience financial insufficiency now due to the sudden change. Many take the TRAIN law or the Tax Reform for Acceleration and Inclusion Act as the reason behind the increasing prices of goods and services.

As to the part of the government, they assured the public that they are doing what they can to address it.

Inflation Rate

Photo lifted from Cassie.net

While other people are worried about the increasing inflation, some people stressed that not only the Philippines are experiencing it and the situations in other countries are worse.

Recently, a news report in line with oil price has crossed the surface.

According to the social media post of Philippine News Agency on Facebook, via Joann Santiago, the proposed suspension of the P2 oil tax hike has been approved.

P2 Oil Tax Hike

Based on the post, it was Department of Budget and Management Secretary Benjamin Diokno who expressed it citing the information from the Office of the Executive Secretary.

“We will stick to that decision,” Diokno said based on the post.

DBM Secretary Benjamin Diokno

Facebook/Philippine News Agency

As of this writing, there are still no further details about the reported suspension of the P2 oil tax hike in 2019. We’ll keep you posted as soon as there is an update.

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