LPG group asks gov't to suspend excise tax on fuel products
With fuel nearing P100, an oil company and transport groups press government to suspend taxes.
MANILA, Philippines — LPG firm REGASCO has petitioned the Philippine government to temporarily halt excise taxes on liquefied petroleum gas, kerosene, diesel, gasoline, and diesel. REGASCO head Arnel Ty and LPG Marketers Association President Arnel Ty sent a letter to Energy Secretary Sharon Garin, appealing for the suspension of excise taxes on these fuels.
Ty argued that Dubai crude oil prices, currently surpassing $100 per barrel, necessitate such action. Ty stated that if the request is granted, fuel prices could plummet by P3 per kilogram for LPG, P6 per liter for diesel, P10 per liter for gasoline, and P5 per liter for kerosene. The upcoming increase in global oil prices, set to begin on September 15, could push fuel prices beyond P100 per liter at some stations.
Under Section 148 of the National Internal Revenue Code, the president can suspend or reduce excise taxes on petroleum products if the one-month average Dubai crude oil price reaches or exceeds $80 per barrel. President Ferdinand Marcos Jr. utilized this authority previously this year by suspending excise taxes on LPG and kerosene for up to three months via Executive Order No. 114.
As fuel prices continue to surge, transport group MANIBELA initiated a two-day strike from Monday to Tuesday, September 15, criticizing Secretary Garin's earlier remarks about limited government control over local fuel prices due to the Philippines' oil imports.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
