Groups protest oil price hike, call for tax suspension

Various groups held protests on Monday against the upcoming oil price hike and called for the suspension of VAT and excise tax on petroleum products.

PISTON president Mody Floranda argued that fuel subsidies only benefit some sectors, urging the government to suspend excise taxes instead.

Floranda also criticized the staggered increase in fuel prices, suggesting it does not provide substantial relief to drivers.

Protesters called for the abolition of the Oil Deregulation Law, which they believe allows oil companies to manipulate prices and profit from tensions in the Middle East.

The government stated that President Ferdinand Marcos Jr. would first need to meet with his economic team before considering any new interventions.