posted June 17, 2020 at
08:30 pm by Alena Mae
S. Flores
The
Energy Department said 644 retail stations of Pilipinas Shell Petroleum Corp.,
or roughly 55 percent of its network, started implementing the additional
10-percent tariff adjustment on diesel products.
Pilipinas
Shell implemented an increase of P1.62 per liter for diesel (P1.45 per liter
plus VAT of P0.17 per liter) to reflect the higher duty a day after raising
pump prices by P1.25 per liter for gasoline, P1.10 per liter for diesel and
P0.75 per liter for kerosene on Tuesday.
Energy
Secretary Alfonso Cusi asked the Oil Industry Management Bureau to ensure the
proper implementation of the additional 10-percent tax on crude and petroleum
products under Executive Order No. 113.
“Upon
the release of EO 113, our Oil Industry Management Bureau immediately met with
industry stakeholders to discuss the way forward, including their strict compliance
with the EO’s guidelines,” Cusi said.
Malacanang
Palace issued the EO on May 2, imposing an additional 10-percent import tax on
petroleum products to augment government resources to finance programs and
measures to mitigate the effects of the coronavirus pandemic and launch the
country towards recovery and rehabilitation.
The
department said the additional tax would be reflected in price adjustments only
after oil companies exhausted existing inventories that they purchased prior to
the issuance of EO 113.
Projections
based on their inventory reports indicated that the added costs might be
included beginning the third week of June.
The
department said that even with the additional P1.50 to P1.60 per liter tariff
range, prices of petroleum products would remain low.
Cumulative
rollbacks from January to date stand at P6.72 per liter for gasoline, P9.99 per
liter for diesel, and P13.69 per liter for kerosene, the department said.
“Protecting
our consumers is always our top priority. We will not allow any unfair practice
to derail consumer interests, especially given the challenges we continue to
face in the midst of the pandemic,” Cusi said.
Under
EO 113, the temporary imposition of additional tariffs will immediately revert
to zero upon the certification of the department that a trigger price has been
reached (when Dubai crude reaches $64 per barrel), or when the Bayanihan to
Heal as One Act ceases to be in effect, whichever comes first
The
department expects to generate P6.783 billion from the imposition of EO 113.
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