The government has so far collected more than P147 billion in duties and taxes through its fuel-marking program, according to the Department of Finance (DoF). Of the total marked fuel products, the bulk — 61.79 percent — was from diesel, 37.69 percent from gasoline and 0.52 percent from kerosene. By location, majority, or 74.1 percent, of the marked fuel products came from Luzon; 20.9 percent, from Mindanao; and 5 percent, from the Visayas. Participating companies were Petron Corp., Pilipinas Shell Petroleum Corp., Unioil Petroleum Philippines Inc., Chevron Philippines Inc., Seaoil Philippines Inc., Phoenix Petroleum Philippines Inc., Insular Oil Corp., Total and Filoil Energy Co., Jetti Petroleum Inc., Filoil Energy Co. Inc., Marubeni Philippines Corp., PTT Philippines Corp., Micro Dragon Petroleum Inc., Warbucks Industries Inc., Goldenshare Commerce, Era1 Petroleum Corp., High Glory Subic International Logistics Inc., SL Harbor Bulk Terminal Corp., Jadelink Subic Inc., and SL Gas. Such smuggling was estimated to have cost the government P27 billion to P44 billion annually in revenue losses.

Source: Manila Times November 06, 2020 17:15 UTC