By Genalyn Kabiling
More random checks on oil depots and gas stations will be conducted by authorities to prevent traders from unduly raising prices due to a new tax reform law.
Presidential Spokesman Harry Roque said the Department of Energy (DoE) will continue to monitor the oil industry to ensure the protection of consumers.
“Today’s increase in fuel prices is brought about the movement in prices in the international market and not just because of TRAIN (Tax Reform for Acceleration and Inclusion). Our Energy officials are closely monitoring the oil depots and gas stations to ensure fairness and utmost protection to the consumers in the implementation of the law,” Roque said during a Palace news conference.
He said the energy department recently released consumer advisories and met with oil industry players following the impact of TRAIN on petroleum prices.
He said the oil companies were asked to submit notarized documents in relation to the determination of old and new stocks with Dec. 31 as the tipping point.
“DoE will continuously conduct random checks on the depots and gas stations to ensure alignment of operations with data submitted,” he said.
The new tax law signed by President Duterte lowers income taxes but imposes higher excises on fuel, tobacco, cars, and some sweetened drinks.
