Pump prices rollback this week

Published January 27, 2020, 12:00 AM

by manilabulletin_admin

By Myrna M. Velasco

While taking grips on the impact of higher excise taxes, consumers can lean on slight relief with the scheduled rollback on pump prices this week at the scale ₱0.40 per liter for diesel; ₱0.30 per liter for gasoline and ₱0.35 per liter for kerosene.

The oil firms that already cut pump prices include Pilipinas Shell Petroleum Corporation, Seaoil, Cleanfuel, PetroGazz, PTT and Total mostly effective on Tuesday (January 28); while the rest of the industry players are anticipated to follow.

Nevertheless, the consumers will not fully feel the effect of the price cuts because many gasoline stations are already imposing higher excise taxes on their petroleum products.

Given the circumstances, the consumers are being advised to fill at gasoline stations that are still selling their old stocks because these do not carry yet the adjusted taxes.

Based on the estimates of the Department of Energy, full implementation of the last tranche of increased taxes under the Tax Reform for Acceleration and Inclusion (TRAIN) may come between second to last week of February yet.