The improving Covid-19 situation, easing of mobility restrictions and reopening of borders by many countries fueled the prospects of higher oil demand, according to the Department of Energy.

Slight relief: oil firms roll back diesel, kerosene prices, but LPG to go up anew

This driver wears a long face as he refills his gasoline tank using his own money in a gasoline station in Pasay City on Friday, 26 November 2021. 

WHERE IS THE P1-B FUEL SUBSIDY? 

A gasoline station attendant refills the tank of a motorcycle inside a fuel station along F.B. Harrison Street, Pasay City on Tuesday, 16 November 2021. 

MEAGER ROLLBACK

Earlier, Saudi Arabia, which enjoys a good pile of cash on the back of higher oil prices over the past few months, had warned against pumping oil more than what is needed now: Covid-19 still has a surprise coming and they should not make haste in ramping up production.

As global oil prices plummet, new Covid-19 strain prompts OPEC not to pump more into market

After more than ten consecutive weeks of price hikes, oil firms rolled back the prices of their products by around 60 cents per liter on Tuesday, 9 November 2021. 

MINIMAL ROLLBACK

Even as the finance department is opposing vehemently the suspension of excise tax on fuel products, the House is set to deliberate the bill calling for such suspension even if some P47-billion would be foregone from such a move. But Rep. Joey Salceda said intensified campaigns against fuel smuggling can cover for the foregone revenues as a result of the suspension.

Poor at losing end again? Fuel tax halt to benefit the rich

 Immediate relief from rising fuel prices is being sought but it will also mean a loss of revenue amounting to hundreds of billions of pesos.

Measure seeking to suspend gas and diesel tax filed

Despite repeated pleas from motorists and the public for the government to intervene and stop the weekly spike in oil prices, greedy oil firms would not heed the calls and once again raised the prices of their products on Tuesday, 2 November, 2021.

NON-STOP HIKE

A bill filed in the lower house seeks to lower the excise tax collected on fuel products, principally diesel, kerosene and LPG—which are used by middle to low- income consumers—to provide them relief from the losses they incurred during the pandemic.

Salceda seeks to lower excise tax on fuel for 6 months

Some motorists heaved a sigh of relief after oil companies today announced a rollback in the prices of their products after more than 10 weeks of continued hikes that drove the prices of gasoline to as high as P74 per liter. 

SLIGHT ROLLBACK

Poor at losing end again Fuel tax halt to benefit the rich photo Telegraph India

As global oil prices plummet, new Covid-19 strain prompts OPEC not to pump more into market photo Reuters

Slight relief oil firms roll back diesel, kerosene prices, but LPG to go up anew photo Philippine Star

Salceda seeks to lower excise tax on fuel for 6 months photo BusinessWolrd Online

WHERE IS THE P1-B FUEL SUBSIDY Mike Taboy

Measure seeking to suspend gas and diesel tax filed photo BusinessWorld Online

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