TRAIN law jacks up fuel prices in Puerto

Fuel stations in Puerto Princesa increases the prices of gasoline products since Tuesday (file photo)

Fuel stations in Puerto Princesa began increasing the pump prices of gasoline products since Tuesday, as the impact of the new tax policy, the Tax Reform for Acceleration and Inclusion (TRAIN) law, took effect.

Caltex Techron station supervisor, Madnoor Abdulah confirmed that the reason for the increase is due to the excise tax as provided in the new law. He also said that another reason for the increase is the movement of oil prices in the world market.

He said that the price of diesel is now at 45.28 from only 41.93 before. Unleaded gasoline, on the other hand, is now at 55.04 from only 53.97, and another brand of unleaded gasoline’s pump price is 54.68 from 51.71.

Fuel stations put up their announcement of the price increase in tarpaulins, as required by law.

Allan Zamora, a tricycle owner, said he was surprised with the steep increase in fuel prices.

“Malaki yung naging increase ngayon. Dahil na ito sa bagong batas kasi dati kung may increase man, e sentimo-sentimo lang, minsan 30 o 40 centavos, ngayong malaki. Piso ang itinaas.”

“Halos sa lahat ng gasolinahan ganun ang itinaas, lampas talaga sa piso” he added. “Mas malaki na naman ang magiging isipin namin dito. Kasi siyempre malaki na ang pera na i-set aside namin para sa expenses, kasi malaki na ang per liter,” he added.

An excise tax was charged on diesel at P2.50 per liter starting this year. This will be raised to P4.50 the following year and P6 in 2020. LPG will be taxed at P1 per kilo in 2018 and will be increased to P2 pesos the following year and to P3 pesos in 2020.

The excise tax on regular and unleaded premium gasoline will be raised to P7 in 2018 from the current P4.35. This will be increased to P9 in 2019 and P10 in 2020.

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