Pump Prices to Rise with ‘Fuel Marking’ Policy
Prices at Philippine pumps will incur an increase of PhP0.07 per liter as a result of the ‘fuel marking policy’ to be instituted by the government as a measure to rid the oil sector of smuggling that have denying the State coffers of roughly PhP30 billion revenues annually.
That has been based on the calculation of the Oil Industry Management Bureau of the Department of Energy (DOE) as to the cost impact of the policy’s implementation. It will be a pass-on cost to the consumers.