"Congress exploring ways to lower fuel prices" - Rep. Benitez

BACOLOD CITY, Philippines  - The House of Representatives have been looking for ways on how to bring down the prices of oil and other petroleum products, according to Rep. Alfredo Abelardo "Albee" Benitez (3rd district, Negros Occidental).

Benitez told The FREEMAN: "It is being discussed now in Congress. We're trying to mitigate the high cost of fuel. We are looking for alternatives and possible policies to mitigate the increasing cost of fuel."

He said one of the ways congressmen have been suggesting is to exempt fuel products from value added tax (VAT).

Another one is to revive the Oil Stabilization Fund but it will be up to the government to subsidize any increase, he said, adding that congressmen were also studying the repercussions to the country when this kind of policy is instituted, he said. (FREEMAN)