PB seeks measures to prevent profiteering

PROVINCIAL Board Member Thadeo Jovito Ouano urged the Department of Energy and Department of Trade and Industry to monitor oil firms and gasoline stations to counter profiteering following the implementation of the Tax Reform for Acceleration and Inclusion Law (TRAIN).

Ouano’s resolution was approved during the PB’s regular session last Monday.

Ouano, who chairs the committee on environmental conservation and natural resources, said there are still questions as to how the DOE will monitor gasoline stations that allegedly raise their prices immediately without consent from oil companies and consumers.

Ouano said DOE promised it will conduct random audits and monitor oil firms, particularly in refineries and in the retail level, to determine if they are compliant with the TRAIN law.

He also reminded oil firms to require their retailers or gas stations to post what products will be charged with excise tax and when will it be implemented to inform the public how much they will be paying. (JKV)
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