The excise tax on cooking gas or liquefied petroleum gas will jump by P1 per kilogram to P2. The tax on bunker oil, which is used for producing electricity, will rise from P2.50 to P4.50 per liter. Levies on other oil products like asphalt and waxes will go up from P7 to P9 per liter or kilogram. The second round of increase is expected to cause a domino effect on prices of products and services, including transportation, fares and electricity. The senator urged the DOE to first scrutinize its inventories of petroleum crude oil and products before it allows oil companies to impose fuel price hikes as a result of the implementation of the second tranche tax.

Source: Philippine Star December 30, 2018 16:05 UTC