In its petition, SL Harbor explained that industrial fuel oil, more commonly known as
bunker fuel oil, is a low value item which can only be used by power plants, seafaring vessels and other manufacturing plants.
The 380-cst
bunker fuel oil was assessed at $620 a tonne, up $2 a tonne this last Wednesday.
It also intends to slap an excise tax of P6 a liter on asphalt,
bunker fuel oil, denatured alcohol, kerosene, LPG and processed gas.
The proposed policy enables the unbundling of the base prices of petroleum products, gasoline, automotive and industrial diesel, kerosene, jet fuel,
bunker fuel oil and household and automotive liquefied petroleum gas (LPG).
The proposed policy-which certain oil players are opposing for various reasons-enables the unbundling of the base prices of petroleum products-gasoline, automotive and industrial diesel, kerosene, jet fuel,
bunker fuel oil and household and automotive liquefied petroleum gas.
On May 8 the DOE said in a news release the new policy is targeted 'to be issued by the end of June this year,' and will enable 'the unbundling of the base prices of petroleum products-gasoline, automotive and industrial fuel, kerosene, jet fuel,
bunker fuel oil and household and automotive liquefied petroleum gas.'
An increase to P6 per liter, meanwhile, had been proposed by the DOF for diesel as well as other products currently exempted from excise tax, including asphalts,
bunker fuel oil, denatured alcohol used for motive power, kerosene, liquefied petroleum gas (LPG), and processed gas.
Targeted to be issued by the end of June this year, the new policy enables the unbundling of the base prices of petroleum products-gasoline, automotive and industrial diesel, kerosene, jet fuel,
bunker fuel oil and household and automotive liquefied petroleum gas.
An increase to P6 a liter, meanwhile, has been proposed by the DOF for diesel as well as other products currently exempted from excise tax, including asphalt,
bunker fuel oil, denatured alcohol used for motive power, kerosene, liquefied petroleum gas (LPG) and processed gas.