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DOF opposes move to remove VAT from fuel

The Department of Finance (DOF) is opposing a bill at the Senate that aims to make fuel cheaper by removing the value added tax (VAT) on petroleum products. Senator Aquilino “Kiko” Pimentel filed in January Senate Bill No. 2163, which DOF noted would essentially be a “tax break” for those who have cars. The proposed […]

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Palace: It’s a go for fuel tax hike

Malacañang is supporting the decision of government economic managers to push through with the second round of fuel tax increases next month. Presidential spokesperson Salvador Panelo said the economic managers had their reasons for withdrawing their initial recommendation to suspend the fuel tax increase amid rising inflation. “I’m sure they have basis to make that […]

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As global oil prices drop, gov’t reviews temporary excise tax halt

CLARK – Amid declining global prices, the government is reviewing the temporary suspension of the scheduled hike in oil excise taxes early next year even as it was already green-lighted by President Rodrigo Duterte, Finance Secretary Carlos G. Dominguez III said Monday. “We are currently again reviewing it. This is a totally unexpected development, although […]

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Gov’t ready to suspend excise tax on fuels

The government is set to suspend the excise taxes on fuels in case global oil prices average above $80 a barrel for three straight months. An interagency committee would issue in the next few weeks the guidelines on the suspension in case a provision in the Tax Reform for Acceleration and Inclusion (TRAIN) Act is […]

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Higher fuel prices add to burden of consumers

Pump prices of oil products went up for the eighth time in as many weeks, increasing by up to P1.35 a liter on Tuesday, the biggest jump over the past two months that pushed fuel prices to their highest levels in a decade. The latest round of fuel price increases could further fan the fires […]

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Diesel, gasoline pump prices up anew

Oil firms on Monday raised pump rates after two weeks of price cuts as producers regained their bullish sentiments, pushing up global prices. Starting 6 a.m., prices of diesel went up by 85 centavos per liter while those of gasoline went up 65 centavos. Those that have announced price changes included Pilipinas Shell, Flying V, […]

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Senators warn P6 tax on fuel inflationary

The government proposal to impose excise taxes on fuel could lead to price increases that would burden poor Filipinos, two senators said on Sunday. Sen. Sonny Angara, chair of the Senate ways and means committee, said the Department of Social Welfare and Development (DSWD) was against the P6 excise tax on fuel under the administration’s […]

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Oil firms jack up pump prices

Pump prices of petroleum products went up today (Tuesday) after three straight weeks of decline as the global glut was deemed to have been easing. Local oil firms raised prices as early as midnight of Tuesday, with the price of gasoline rising by 30 centavos per liter. There were no changes in the pump prices […]

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Oil prices rally as OPEC discusses output cut

VIENNA  — The price of oil is rallying as OPEC countries discuss how to cut the cartel’s production levels and support the market. The international benchmark for crude oil, Brent, was up $2.37 at $48.75 a barrel on Wednesday, recovering steep losses from the day before, as the cartel’s oil ministers met in Vienna. A […]

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Oil firms cut gasoline, hike diesel prices

LOCAL oil firms cut gasoline prices but raised the cost of diesel and kerosene at the pump, continuing the price trend set last week. Shell and Seaoil implemented a rollback for gasoline of 25 centavos per liter and a price hike for diesel of 30 centavos per liter and kerosene of 15 centavos per liter […]

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Mar 27, 2019

At the Singapore Auto Show early this year, the Philippine media had a sneak preview of the all-new Mazda

Mar 13, 2019

Much is said about mobility, and the future of mobility. It is a fairly common buzzword in the automotive

Mar 13, 2019

It’s hard to question the love for music and cars of Pinoys. There will always be that music genre

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