Transport group calls for regulation, scrapping of VAT amid incessant oil price hikes
“The government is doing nothing because the prices of oil are controlled by the Big 3.” — Piston member
By RONALYN V. OLEA
Bulatlat.com
MANILA – Edwin Bermeo, 55, driver of a FX, a public utility vehicle, complained about the incessant oil price hikes this month. The price of diesel has increased by P3.20 ($0.07) per liter. Oil companies hiked the prices of petroleum products four times since the start of the year.
Bermeo said his net income per day has shrunk to only P200 ($4.65), not enough to feed his six children. Like many drivers, Bermeo works for 14 to 16 hours per day.
“The government is doing nothing because the prices of oil are controlled by the Big 3,” Bermeo said in Filipino, referring to Caltex, Petron and Shell. “And there is the VAT [value added tax] which should have been added to our meager income.”
The government has imposed 12 percent VAT on prices of petroleum products. With the average price of diesel per liter at P54.04 ($1.26), according to Department of Energy’s oil price monitor, the VAT on oil amounts to P6.48 ($0.15) per liter. If VAT is removed, a driver could save up to P162 ($3.77) for 25 liters of diesel..... MORE
Source: Bulatlat.com
URL: http://bulatlat.com/main/2012/01/26/transport-group-calls-for-regulation-scrapping-of-vat-amid-incessant-oil-price-hikes/
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