Author Topic: Amid rising prices, Poe urges gov't to suspend fuel excise tax  (Read 2182 times)

Offline Lee2

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On Wednesday, Sen. Paolo Benigno “Bam” Aquino called on Congress to amend the TRAIN law to allow for an inflation-based trigger that would allow the suspension fuel excise taxes.

He said that suspending the collection of the excise tax on fuel 2019, as Malacañang suggested, would be a little too late amid the continuing rise of prices.

“Next year is too late. Our countrymen are suffering too much because of the rise in the prices,” he said.
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I guess this sort of backs up my thoughts that it is no longer as inexpensive to live in the Philippines, I just paid $2.67 for a gallon of regular at Costco, how does that work out against prices where you are? If they take off the tax it will no doubt lower prices of just about everything else.
:) Happily married since 1994 & live part of the year in Cebu and the rest in S. Florida.

Offline JoeLP

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Re: Amid rising prices, Poe urges gov't to suspend fuel excise tax
« Reply #1 on: May 26, 2018, 02:52:16 AM »
I guess this sort of backs up my thoughts that it is no longer as inexpensive to live in the Philippines, I just paid $2.67 for a gallon of regular at Costco, how does that work out against prices where you are? If they take off the tax it will no doubt lower prices of just about everything else.
Theoretically.  I hope it does.  But businesses are sorta like governments.  If they can save money somewhere and keep charging the same price and get away with it....

But I don't think it's been too long set yet and if the tax is removed soon, I think you are right and the costs elsewhere will drop.
In the land of the blind, the one eyed man is king.

Offline David690

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Re: Amid rising prices, Poe urges gov't to suspend fuel excise tax
« Reply #2 on: May 26, 2018, 10:26:45 AM »
I guess this sort of backs up my thoughts that it is no longer as inexpensive to live in the Philippines, I just paid $2.67 for a gallon of regular at Costco, how does that work out against prices where you are? If they take off the tax it will no doubt lower prices of just about everything else.

Yes I could get out my calculator and convert US$ per gallon to Php per litre, but is that US gallons or imperial gallons.  As this forum is Living in The Philippines, why not stick to the currency and unit of measure that is used here where we live?
In Davao yesterday I paid P42 per litre of diesel.
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Offline bigrod

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Re: Amid rising prices, Poe urges gov't to suspend fuel excise tax
« Reply #3 on: May 26, 2018, 11:48:33 AM »
Yes I could get out my calculator and convert US$ per gallon to Php per litre, but is that US gallons or imperial gallons.  As this forum is Living in The Philippines, why not stick to the currency and unit of measure that is used here where we live?
In Davao yesterday I paid P42 per litre of diesel.

Okay you paid approx $3.06 per US gal or $3.67 per Imp gal.  Maybe you know another way to compare without computing it. I sure do not.  Most US vehicles when I left used gasoline not diesel, and diesel prices were normally higher than gasoline.  I would guess Lee more than likely bought gasoline at that price in Florida.  My vehicle here is a gasoline engine(by choice) so my price per liter is going to be higher than diesel.  I drive out of my local area to get gas because it is cheaper in that area than mine even though it is the same brand of fuel. 

Chuck
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Offline bigrod

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Re: Amid rising prices, Poe urges gov't to suspend fuel excise tax
« Reply #4 on: May 26, 2018, 12:37:26 PM »
Comparing fuel prices to the US is probably meaningless since I have been here(Jun 2010) fuel prices have always been higher here.  Fuel prices in Germany(Apr 68-Apr 72 and Jan82-Jun 84), Greece(Apr72-Jun 73) and UK (Jun 81-Jan 82) were always higher than the US.

Chuck
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Offline David690

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Re: Amid rising prices, Poe urges gov't to suspend fuel excise tax
« Reply #5 on: May 26, 2018, 04:08:49 PM »
Okay you paid approx $3.06 per US gal or $3.67 per Imp gal.  Maybe you know another way to compare without computing it. I sure do not.  Most US vehicles when I left used gasoline not diesel, and diesel prices were normally higher than gasoline.  I would guess Lee more than likely bought gasoline at that price in Florida.  My vehicle here is a gasoline engine(by choice) so my price per liter is going to be higher than diesel.  I drive out of my local area to get gas because it is cheaper in that area than mine even though it is the same brand of fuel. 

Chuck

But trying to compare fuel prices between USA and Fils is pretty pointless anyway as the exchange rate is always changing and will affect the result. If you are discussing "Amid Rising Prices, Poe urges gov't to suspend fuel excise tax", then it makes sense to discuss the fuel prices in Fils.
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Offline David690

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Re: Amid rising prices, Poe urges gov't to suspend fuel excise tax
« Reply #6 on: May 26, 2018, 04:10:53 PM »
Comparing fuel prices to the US is probably meaningless since I have been here(Jun 2010) fuel prices have always been higher here.  Fuel prices in Germany(Apr 68-Apr 72 and Jan82-Jun 84), Greece(Apr72-Jun 73) and UK (Jun 81-Jan 82) were always higher than the US.

Chuck

With the probable exception of Saudi Arabia, US fuel prices are always less than most places in the world.
Londoner at heart

Offline Peter

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Re: Amid rising prices, Poe urges gov't to suspend fuel excise tax
« Reply #7 on: May 26, 2018, 04:13:20 PM »
Comparing fuel prices to the US is probably meaningless since I have been here(Jun 2010) fuel prices have always been higher here.  Fuel prices in Germany(Apr 68-Apr 72 and Jan82-Jun 84), Greece(Apr72-Jun 73) and UK (Jun 81-Jan 82) were always higher than the US.

Chuck

Chuck.

As a comparison, the 2017 average, countrywide price of 1 litre of unleaded petrol (gasoline) in the UK was GBP 1.30, when GBP 1 was floating around the PhP 66.50 mark. Average price, not to say some retail outlets, supermarkets and such having loss leaders, weren't cheaper.

Makes a 2017 equivalent of about PhP 86.40 a litre.

UK Retail price broken down as follows:
Base cost to produce and get it onto the forecourt - 30p.
Fuel duty (Govt tax) - 58p.
VAT - 22p.
So last year's price to the motorist 1 Pound 30 pence.

Haven't checked this year's average yet, but they never seem to come down!

Taxes get the motorist everytime.  >:( >:( >:(

Peter


« Last Edit: May 26, 2018, 04:28:51 PM by Peter »
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Offline bigrod

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Re: Amid rising prices, Poe urges gov't to suspend fuel excise tax
« Reply #8 on: May 26, 2018, 05:14:37 PM »
But trying to compare fuel prices between USA and Fils is pretty pointless anyway as the exchange rate is always changing and will affect the result. If you are discussing "Amid Rising Prices, Poe urges gov't to suspend fuel excise tax", then it makes sense to discuss the fuel prices in Fils.

I actually do not compare prices except those in the area I live.  Why would the price of gas in the US, UK, Germany, etc. concern me since I live in Cavite.  I think comparing the price here to anywhere would have the same fluctuations in FX rates as comparing to the US.

Chuck
Life is  to short not to live it right the first time

Offline bigrod

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Re: Amid rising prices, Poe urges gov't to suspend fuel excise tax
« Reply #9 on: May 26, 2018, 05:23:18 PM »
Chuck.

As a comparison, the 2017 average, countrywide price of 1 litre of unleaded petrol (gasoline) in the UK was GBP 1.30, when GBP 1 was floating around the PhP 66.50 mark. Average price, not to say some retail outlets, supermarkets and such having loss leaders, weren't cheaper.

Makes a 2017 equivalent of about PhP 86.40 a litre.

UK Retail price broken down as follows:
Base cost to produce and get it onto the forecourt - 30p.
Fuel duty (Govt tax) - 58p.
VAT - 22p.
So last year's price to the motorist 1 Pound 30 pence.

Haven't checked this year's average yet, but they never seem to come down!

Taxes get the motorist everytime.  >:( >:( >:(

Peter

Peter

Back in 1968 in Germany I paid 9 cents for a US gal of gasoline at the US Base gas station.  No taxes charged and had coupons to buy at ESSO stations off base. Don't remember what the price was the Germans paid per liter in DMarks but is was high as it was in the UK.  Think I was making less than $200 a month at my rank.

Chuck
Life is  to short not to live it right the first time

Offline Lee2

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Re: Amid rising prices, Poe urges gov't to suspend fuel excise tax
« Reply #10 on: May 26, 2018, 07:43:23 PM »
Sorry I did not mean to upset anyone, I just thought it might be interesting to see prices where each of us live vs where we used to live, knowing that most places in the world are more expensive than the Philippines. Heck prices in many areas of the U.S. are more expensive than where we live when we are in Florida, which brings up another thought, do prices substantially change from area to area in the Philippines? Will the taking off of VAT change prices substantially?
:) Happily married since 1994 & live part of the year in Cebu and the rest in S. Florida.

Offline Steve & Myrlita

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Re: Amid rising prices, Poe urges gov't to suspend fuel excise tax
« Reply #11 on: May 27, 2018, 08:03:43 AM »
Gas here in Bacolod is currently P52-P55 / L for unleaded reg.
Thank you...God Bless...
Bro Steve & Sis Myrlita
Bacolod City, PH
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Offline David690

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Re: Amid rising prices, Poe urges gov't to suspend fuel excise tax
« Reply #12 on: May 27, 2018, 04:09:28 PM »
I actually do not compare prices except those in the area I live.  Why would the price of gas in the US, UK, Germany, etc. concern me since I live in Cavite.  I think comparing the price here to anywhere would have the same fluctuations in FX rates as comparing to the US.

Chuck

My thoughts exactly, thats why I suggested using local PHP and litres.
Londoner at heart

Offline David690

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Re: Amid rising prices, Poe urges gov't to suspend fuel excise tax
« Reply #13 on: May 27, 2018, 04:12:42 PM »
Sorry I did not mean to upset anyone, I just thought it might be interesting to see prices where each of us live vs where we used to live, knowing that most places in the world are more expensive than the Philippines. Heck prices in many areas of the U.S. are more expensive than where we live when we are in Florida, which brings up another thought, do prices substantially change from area to area in the Philippines? Will the taking off of VAT change prices substantially?

You haven't upset anybody Lee, no worries.  Current price of diesel where I buy in Davao is P42 per litre.  I'd have to check with the wife to ask the price of petrol.
Londoner at heart

Offline Gray Wolf

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Re: Amid rising prices, Poe urges gov't to suspend fuel excise tax
« Reply #14 on: May 28, 2018, 01:16:54 AM »
Trigger alert! Just filled up yesterday at my neighborhood Kroger gas station in Louisville, KY. Paid $2.86 per gal. 16.033 gals cost me $46. That will last me over a month in my 2002 Jeep Liberty, with just over 68,000 miles on the odometer. I keep the vehicle in top notch condition and hope it lasts another 16 years
Louisville, KY USA - Bagong Silang, Caloocan City, PH

 


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