MANILA, Philippines – More than 900 out of 9,003 fuel retail outlets in the country, or over 10%, have already implemented the 3rd and final excise tax hike under the Tax Reform for Acceleration and Inclusion (TRAIN) law.
The Department of Energy (DOE) said it has received word from Shell, Caltex, Seaoil, Total, PTT, and Petro Gazz about the implementation.
The final hike took effect last January 1, but it can only be imposed on new stocks acquired in 2020, not on oil produced or imported in 2019. The old stocks must be used up first.
Under the final hike, diesel has gone up by P1.50 per liter, while gasoline and liquefied petroleum gas have gone up by P1. (READ: Petron says TRAIN law encouraged illegal business activities)
Gasoline stations are required to display a sign indicating the date of their excise tax hike implementation and which products are covered.
“The DOE has been undertaking all necessary measures to ensure that all tranches of excise taxes on petroleum products are properly implemented,” the department said.
The last tranche brings the excise tax hike on most fuel products to a total of P10 per liter since the TRAIN law was passed in 2017. (READ: [ANALYSIS] How the TRAIN law worsened poverty, inequality) – Rappler.com