October 10, 2023
The recent rollbacks are not likely to be sustained with the oil price hikes expected to persist until the end of the year. Now is the time for government to make more decisive and effective steps to minimize fuel costs, by removing excise and value-added taxes on oil products.
October 10, 2023
Recent oil price rollbacks barely offset the several weeks of hikes since early July. Instead of sitting idly by, the Marcos government should get rid of fuel taxes so that oil prices are lower and to curb the domino effect on the already high prices of other goods and services.
September 13, 2023
The Php4 billion in fuel subsidies that the Marcos Jr administration is set to disburse is not enough relief for Filipinos, especially the poor, who have been burdened by rising oil prices for the past 10 weeks.
August 18, 2023
Oil taxes have burdened Filipinos whose purchasing power continues to diminish because of uncontrolled inflation and meager wages. When removed, Filipinos could be paying much cheaper for oil.
October 11, 2022
Oil product prices will be lower without oil excise taxes and the 12% VAT. The latest oil price hikes increase the price of gas to as high as Php79.52/liter and of diesel to as high as Php85.79. The oil excise tax and VAT amounts to Php19.54 and Php16.29 for gas and diesel, respectively.
June 29, 2019
Research group IBON said that the Department of Energy (DOE) circular ordering oil companies to unbundle prices is a welcome and overdue measure for greater transparency to help prevent overpricing of oil products. However, the government must have the political will to implement this and the involvement of the public and consumer groups must be […]
February 1, 2019
December 13, 2018
Read more: Despite rollbacks, TRAIN makes fuel more expensive–IBON
December 4, 2018
Research group IBON said that even with recent oil price rollbacks, the Duterte administration’s Tax Reform for Acceleration and Inclusion law (TRAIN) increases fuel prices with an inflationary effect burdening the poor more than the rich. IBON pointed out that rollbacks have always been proven to be temporary and stressed that TRAIN’s taxes make fuel […]