The Energy Department signed a memorandum of agreement with three oil companies to provide fuel discounts to public utility vehicles to shield consumers from the impact of higher excise taxes on petroleum products.
“These corporate social responsibility programs of the oil companies are aimed to mitigate the impact of Tax Reform for Acceleration and Inclusion law’s impact on transportation fares,” said Energy Secretary Alfonso Cusi.
The department signed the agreement with Petron Corp., Pilipinas Shell Petroleum Corp. and Phoenix Petroleum Philippines Inc.
The CSR programs will expand the oil companies’ existing discount programs for PUJs, which include the increase in the number of participating retail stations, higher discounts and the coverage of other PUVs.
Under the agreement, the oil firms will provide at least P1 discounts per liter of liquid fuels to PUVs, which may include jeepneys and taxis, provide a designated lane for PUVs and offer additional privileges and other promotional offers to drivers of PUVs.
“With these fuel discount and other CSR programs, we are hopeful that operators of jeepneys and buses will also help lessen the impact of Train to consumers by not increasing the transport fares,” Cusi said.