STRENGTHENING MEASURES TO ADDRESS THE EXTRAORDINARY INCREASE IN WORLD OIL PRICES, DIRECTING THE ENHANCED IMPLEMENTATION OF THE GOVERNMENT’S ENERGY CONSERVATION PROGRAM, AND FOR OTHER PURPOSES

AMENDING PARAGRAPH (b) OF SECTION 128 OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED, BY REVISING THE EXCISE TAX RATES ON CERTAIN PETROLEUM PRODUCTS

DIRECTING OIL INDUSTRY PLAYERS TO MAINTAIN PRICES OF PETROLEUM PRODUCTS PREVAILING ON THE LAST LANDFALL OF TYPHOON "PEPENG" (PARMA) DURING THE PERIOD OF EMERGENCY IN THE ENTIRE ISLAND OF LUZON

REVISING THE RATES OF SPECIFIC TAX ON CERTAIN PETROLEUM PRODUCTS

Amending Sections 153, 155 and 156 of Title IV (Specific Taxes) of the National Internal Revenue Code of 1977, as amended

AN ACT PROVIDING FOR THE FIXING OF THE MAXIMUM SELLING PRICE OF ESSENTIAL ARTICLES OR COMMODITIES, CREATING THE PRICE CONTROL COUNCIL, AND FOR OTHER PURPOSES.

Resolution expressing the sense of the Senate that the increase in the price of oil products as contained in the December 5, 1990 order of the Energy Regulatory Board, as amended on December 6 and 10, 1990, be immediately reduced, to the maximum extent possible, after taking into consideration the developments in world crude oil, price which has been softening and after proper coordination among those concerned, and with due regard and sensitivity to all relevant factors