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Posted at Dec 02 2016 10:58 AM



MANILA – The government is pushing through with plans to adjust excise taxes on fuel despite a recent decision by oil-exporting countries to cut production, officials said.




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The move of the Saudi-led Organization of Petroleum Exporting Countries is unlikely to constrict supply as alternative sources are available, said Albay Rep. Joey Salceda, vice chairman of a House committee that is hearing President Rodrigo Duterte’s tax reform package. Shale oil from the US is expected to fill the shortfall due to the OPEC cut, said former finance secretary Ernest Leung.




“The OPEC influence and control over the oil situation is not the way it was,” Leung said. Duterte is seeking higher excise taxes on petroleum and cars to offset a reduction in income tax rates.



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