DOE monitoring TRAIN compliance in gas stations

The Department of Energy (DOE) said it is strictly monitoring the implementation of Tax Reform for Acceleration and Inclusion (TRAIN) Law as more oil depots and stations impose additional taxes.

Data from the DOE-Oil Industry Management Bureau (OIMB) showed 48 of 67 liquefied petroleum gas (LPG) depots and 40 of 116 liquid fuel depots have already imposed additional excise taxes as of Jan. 24.

This as they indicated that their end-2019 inventories have already been depleted.

Meanwhile, for LPG refilling plants, four of 297 have already implemented additional excise taxes starting Jan. 10.

To date, Pilipinas Shell Petroleum Corp., PTT Philippines Corp., Chevron Philippines Inc., Petrogazz, Seaoil Philippines Inc., and Total Philippines have already informed the DOE of their implementation of additional excise taxes.

Combined, these companies have raised excise taxes in over 900 liquid fuels retail outlets, which accounts to over 10 percent of the 9,003 retail outlets nationwide.

The DOE said it is keeping a close eye on the implementation of the third and final tranche of excise taxes on petroleum products under the TRAIN Law, which took effect at the start of the year.

Oil companies have a minimum inventory of 15 days while stocks for household LPG have a minimum inventory requirement of seven days.

The DOE has assured the public that it will continue monitoring retail outlets and their implementation of the taxation scheme to uphold the best interests of all consumers.