January 4, 2019 | 12:05 am
THE Department of
Energy (DoE) has ordered six gasoline stations of Petron Corp. to explain why
they prematurely collected excise and value-added taxes on gasoline and diesel
products sold at the turn of the year.
The “show cause” order
follows the DoE’s estimate that old fuel inventory, which was taxed at the old
rates in force in 2018, was good for 15 days.
New fuel taxes took
effect on Jan. 1, 2019.
Energy Undersecretary
Felix Wiliam B. Fuentebella said in a news conference Thursday that the department
was set to serve the order on the same day.
Petron notified the DoE
that some of its fuel retailers were collecting the new taxes. It said the fuel
stations were located in Tarlac, Zambales, Bulacan and Pampanga.
On Dec. 28, 2018, DoE
Secretary Alfonso G. Cusi asked oil companies to dispose of their 2018 fuel
inventory before applying the second round of the excise tax to petroleum
products for 2019.
Mr. Fuentebella said
the imposition of the new taxes comes at a time when prices of petroleum products
are declining. He said another price cut is expected to be announced next week.
Based on DoE
computations, the first tranche of the tax reform on Jan. 1, 2018 increased the
price of gasoline by at least P2.97 per liter. The price of diesel increased by
P2.80 per liter and kerosene by P0.36 per liter. The price increases also
included the 12% value-added tax.
For 2019, the increase
for gasoline prices under TRAIN is P2.24 per liter, while for diesel and
kerosene the rise is at P2.24 and P1.12 per liter, respectively.
For 2020, the price
increases for gasoline, diesel and kerosene are P1.12, P1.68 and P1.12 per
liter, respectively. — Victor V. Saulon
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