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  • PH Fuel Prices Rise Amid Global Crude Price Movements, Excise Tax

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    Lara Mae Arcilla Aguilar
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    The document discusses rising fuel prices in the Philippines amid increases in global crude oil prices and excise taxes. Only 300 gas stations, or 3.47% of all stations nationwide, have started implementing higher prices from the second phase of excise tax increases under the TRAIN law. The second phase imposes an additional PHP2 excise tax per liter of diesel and gasoline and PHP1 per kg of household LPG, as well as a 12% value-added tax. While fuel prices have begun rising with crude oil, the DOE notes price increases will still be smaller due to offsets from rollbacks implemented in 2018 and 2019.

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    The document discusses rising fuel prices in the Philippines amid increases in global crude oil prices and excise taxes. Only 300 gas stations, or 3.47% of all stations nationwide, have started implementing higher prices from the second phase of excise tax increases under the TRAIN law. The second phase imposes an additional PHP2 excise tax per liter of diesel and gasoline and PHP1 per kg of household LPG, as well as a 12% value-added tax. While fuel prices have begun rising with crude oil, the DOE notes price increases will still be smaller due to offsets from rollbacks implemented in 2018 and 2019.

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    11 views2 pages

    PH Fuel Prices Rise Amid Global Crude Price Movements, Excise Tax

    Uploaded by

    Lara Mae Arcilla Aguilar
    The document discusses rising fuel prices in the Philippines amid increases in global crude oil prices and excise taxes. Only 300 gas stations, or 3.47% of all stations nationwide, have started implementing higher prices from the second phase of excise tax increases under the TRAIN law. The second phase imposes an additional PHP2 excise tax per liter of diesel and gasoline and PHP1 per kg of household LPG, as well as a 12% value-added tax. While fuel prices have begun rising with crude oil, the DOE notes price increases will still be smaller due to offsets from rollbacks implemented in 2018 and 2019.

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    of 2

    EVANGELINE B.

    ARCILLA JANUARY 11, 2019

    XII - SWAN

    -PH fuel prices rise amid global crude price movements, excise tax.

    -300 gas stations must explain early charging of higher excise taxes.

    -Fuel prices begin to rise as oil moves higher in the world market. This may

    only be the beginning as hundreds of gas stations already start charging higher

    prices as a result of the second round in fuel excise taxes. - Business Nightly,

    ANC, January 7, 2019.

    -ONLY 3.47 percent of the 8,630 gasoline stations nationwide have started

    implementing higher fuel prices brought about by higher excise taxes under the

    second tranche of the Tax reform for Acceleration and Inclusion (TRAIN) law.

    -The second - round additional excise tax of P2 is imposed per liter of diesel

    and gasoline, and P1 per kilogram on household LPG. There will also be an

    additional 12 - percent value -added tax, for a total of P2.24 for both diesel

    and gasoline, and P1.12 for LPG.

    -Based on data submitted by the oil firms to the Department of Energy (DOE), only 300

    service stations were monitored to have started implementing the second tranche of

    the TRAIN law for petroleum products.


    “We will ensure the fuel stocks for 2018 will be utilized first and sold at the pre-

    implementation prices,” Cusi said.

    However, the DOE pointed out that the increase in pump prices of petroleum products

    resulting from the imposition of the second tranche of fuel excise tax will still be

    smaller. This is due to the offsetting effect of the rollbacks implemented in 2018 and

    January 2019.

    EXPLANATION:

    Maybe I agree because, One of the factors that can change the price into highest

    amount is because of the typhoons and recently, the Philippines is being affected by

    the typhoon Usman and by that a lot of agriculture has been devastated and the

    importing and exporting of the products can be also stranded while they are on their

    way due to the trees, rocks that is being blocked on the road and with the connection

    to this is due to the delays, there expenses might added and lastly their plantation

    might be also affected.

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