The pump prices of petroleum products will continue to decrease, with oil companies announcing a rollback, effective Sept. 13.
Diesel will decrease by P1.45 per liter, gasoline by P0.45 per liter, and kerosene by P1.70 per liter, inclusive of the value-added tax, to reflect the changes in the international market.
Last week, oil companies also implemented a uniform per liter decrease in diesel by P1.55, gasoline by P2.60, and P1.60 for kerosene.
These resulted in the year-to-date total adjustments to stand at a net increase of P36.25/liter for diesel, P16.95/liter for gasoline, and P31.60/liter for kerosene.
Meanwhile, the Bureau of Customs said it continues to enhance its Fuel Integrity Program to prevent fuel smuggling or misdeclaration.
This is to protect the government from foregone revenues in fuel taxes. The initiative also benefits legitimate oil marketing companies through brand integrity, which then ensure consumers of quality fuels, the BOC statement said.
As of Sept. 1, the BOC said it already marked 47.15 billion liters of fuel, and collected a total of P508.15 billion in revenues./CGC
