EDITORIALOil volatility exposes flaw in fuel tax schemeBy The Manila Timeshome/Opinion/Editorial/Oil volatility exposes flaw in fuel tax schemeAS reported on Friday, government economic managers have decided to withdraw their earlier recommendation to President Rodrigo Duterte to suspend the scheduled increase in fuel excise tax, given the recent substantial declines in world oil prices. The policymakers, however, are following the current fuel excise tax law to the letter, and should not be blamed for it. Under the current fuel excise tax scheme, excise taxes on gasoline, diesel fuel, kerosene and LPG are programmed to be raised at the beginning of 2019 and again at the beginning of 2020. Rapid developments in the volatile oil market, however, recently drove oil prices to new lows. Revising the fuel excise tax scheme is a matter of good management.

Source: Manila Times November 30, 2018 17:03 UTC