Discounts, tax breaks imminent as oil prices up

 

A Department of Energy (DoE) agency official said on Friday that offering consumers discounts on oil prices might be the only option for the continuous price hike for now.
At least five local oil companies have already “responded positively” to the agency’s request, according to DoE assistant secretary Gerardo Erguiza.

 

MANILA — These companies are Jetti, Unioil, Seaoil, Phoenix, and Shell. Other corporations are currently “studying it,” Erguiza said in a press conference.

Also, the DoE is seeking a temporary suspension of excise tax on oil prices to decrease its price by ₱6 to ₱10 per liter.

It is also lobbying for the amendment of the Oil Deregulation Law as Energy Secretary Alfonso Cusi wants the agency “to be able to set certain limits to protect the public, considering this is a very important commodity.”

Erguiza also bared that the national government, through the Department of  Transportation, is already “doing the framework” to allow jeepney drivers to increase their passenger capacity amid the pandemic instead of implementing a fare hike. (HMP/Headline PH)

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