MANILA, Philippines – The Department of Energy (DOE) reminded oil companies to use up their old inventory first before slapping new taxes in 2020 to avoid facing criminal charges like large-scale estafa.
Oil prices will rise again starting January 1, 2020, as the final tranche of the Tax Reform for Acceleration and Inclusion (TRAIN) law takes effect.
Under the law, diesel will rise by P1.50 per liter. Gasoline, kerosene, liquefied petroleum gas, and lubricating oils will go up by P1.
Bunker fuel and petroleum coke will likewise increase by P1.50. (READ: Petron says TRAIN law encouraged illegal business activities)
