Lines at the gas station last Friday were really long. People were afraid that the prices would increase and their fears were confirmed. According to several articles on Inquirer, the prices would continue to increase weekly until we hit around 65-66 per litter. There’s even talk right now that prices would shoot up to 70 because of the global increase of oil ($145 US per barrel). You know what’s annoying? I just bought a car 4 months ago and now I’m starting to feel like my gas expense is higher than the monthly amortization I’m paying for the car! It’s just ridiculous!
The question now is – what is our government doing? Or will the just sit idly by as inflation levels keep on soaring? In the latest report published in the newspapers, inflation is at a 14-year high already.
There have been various suggestions done by several officials, including a move to take out the VAT on oil. If we remove the 12% tax we have on gas, that means the prices could go down as much as 7-8 pesos per litter. However, this may have an adverse affect on the economy since the government relies heavily on taxes to keep track with their budget.
What’s sad is that if we were only able to reduce corruption and actually collect tax from evaders, we would probably can afford to do the removal of the VAT from oil products. The eVAT is a desperate example of how our government can’t rationalize their spending and improve collections from other sources of income. It’s a coward’s way out – and that’s pretty much the description that fits the Arroyo administration.
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Tags: eVAT, Gas Price Increase, Taxes
I’m really sorry, sir, but the government cannot do anything anymore about the gas prices. Even if they removed eVat, subsidize it for all motorists, OPEC is just going to increase the price even more. (The fears of the $200 per barrel is just months away from now.) By then, what can the government do?
We can hate on Gloria all we want, but as long as every commodity is tied in an oil-based economy, (which, by the way, we cannot control since we aren’t a major oil producer) the Filipino people is screwed.
By the way, get a hybrid.
Even us, students are affected by the oil price hike. Everyday nasakay ako sa aircon na bus (P44 minimum) tapos tataas pa daw ang singil sa mga transit!… WTH!….. damn government!… TANGALIN NA DAPAT ANG E-VAT! amp! wala na ako panlaro dahil sa taas ng gasolina amp!
Dapat talaga wala ng VAT…
Ung nilalagay ko na nga lang sa bike kong gas ay ung galing sa tito ko… ung gas na pang eroplano… hahaha hinahaluan ko na lang ng gas mula sa gas station… ganun tlaga ang mahal na ng gas eh…
dito sa gas station malapit samin dapat ung minimum ang i gas mo… bale 60 pesos…isang litro lang un… walang bababa sa 60 pesos kada karga… eh tataas nanaman un… GRABE
Black gold tlaga ang oil
i wonder na bakit kaya kokonti lang ang resources natin pag dating sa oil?? o wala lang pondo ang pilipinas para mag hanap ng lugar na madaming oil dito sa pilipinas… katulad ng spratley island… balitang balita na madaming oil dun… kaya nga pinag-aagawan eh… pero technically property un ng pinas… hays AMF
@Itsuki: Yes, the government can’t stop the rising prices, but they can do so much more in uplifting the quality of life for the average Filipino. Check out my latest post.