MANILA — Members of the Makabayan bloc called on President Ferdinand “Bongbong” Marcos Jr. to certify as urgent a proposed measure seeking to repeal the Oil Deregulation Law, saying it would allow the government to step in on fuel pricing and supply.

House Deputy Minority Leader Antonio Tinio of ACT Teachers party-list, along with Assistant Minority Leaders Sarah Elago of Gabriela party-list and Renee Co of Kabataan party-list, said House Bill 8152 aims to restore the government’s authority to regulate oil prices and secure supply.

“Panahon na para gawing priority ang panukala natin na i-repeal ang Oil Deregulation Law para maibalik sa gobyerno ang kapangyarihan na bumili at magbenta ng langis, para may pagkontrol ito sa presyo at malabanan ang sobrang pagtubo ng oil companies,” Tinio said in an interview.

Elago noted that a similar measure, House Bill 8125, remains pending at the committee level and has yet to be deliberated.

“Dapat magkaroon naman ng sense of urgency itong Kongreso, at dapat i-certify as urgent ito ng Malacañang dahil ito ang malaking dahilan kung bakit sobrang hirap at kagipitan na nararanasan natin ng ating mga mamamayan: ang deregulated regime on oil,” Elago said.

She added that repealing the Oil Deregulation Law has long been a demand of the transport sector, which staged a strike on Thursday due to rising fuel costs.

“Aside from this, the government should also provide fuel subsidies, remove that 12% VAT and the excise tax on fuel products,” Elago said.

“Ito po dapat mo yung inuuna at binibigyan ng priority, hindi iyong walang katiyakan na pagbibigay pa ng emergency powers,” she added.

Co, for her part, said scrapping the law would address what she described as a “broken” oil industry in the country.

Under legislative rules, a bill must be certified as urgent by the President to allow its approval on second and third reading on the same day.

In a separate statement, Akbayan Party-list Rep. Perci Cendaña also urged the President to support the passage of House Bill 4304, or the proposed Solidarity Contribution Act, which seeks to impose a wealth tax on high-net-worth individuals.

The bill proposes a tax rate ranging from 1.5% to 3% on net worth exceeding P300 million, with revenues earmarked for programs such as climate change adaptation, universal healthcare, and quick response funds.

Cendaña said the measure could raise at least P78 billion from the country’s 15 richest individuals listed by Forbes.

“With oil prices rising anew and threatening another wave of increases in transport fares, food, and other basic goods, Congress must stop delaying discussions on progressive revenue measures such as a wealth tax,” he said.

“Kailangan nating magdamayan sa panahon ng matinding krisis at nagtataasang presyo ng basic goods and services. Mayaman man o mahirap, may responsibilidad tayo sa bawat isa,” Cendaña added.

Other authors of the wealth tax bill include Akbayan lawmakers Rep. Chel Diokno, Rep. Dadah Kiram Ismula, and Dinagat Islands Rep. Kaka Bag-ao.