Oil crash fg mulls reduction of fuel pump price

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The Philippine government is considering reducing the price of fuel pumps in response to the global oil price crash. The Department of Energy (DOE) and the Department of Finance (DOF) are working together to assess the impact of the oil price drop on the country's economy and to determine the best course of action.

According to the article, the DOE is proposing a reduction in the excise tax on fuel to help mitigate the impact of the oil price crash on the economy. The DOF, on the other hand, is suggesting a reduction in the value-added tax (VAT) on fuel to help reduce the cost of living for Filipinos.

The article also mentions that the government is considering other measures to help mitigate the impact of the oil price crash, such as increasing the allocation of fuel subsidies for low-income households and providing assistance to small businesses and industries that are heavily reliant on fuel.

Overall, the government is taking a proactive approach to address the impact of the oil price crash on the country's economy and to ensure that the benefits of the price drop are shared by all Filipinos.