Source:
https://doe.gov.ph/
Author: pip_admin
The Bureau of Internal Revenue (BIR) renewed its partnership with various business organizations by signing a Memorandum of Agreement (MOA) on 23 June 2026, reinforcing its commitment to advancing tax reforms, enhancing taxpayer services, and promoting a more efficient tax system. As part of the expanded partnership from 12 members to 15 members, the Petroleum Institute of Petroleum (PIP) has joined the BIR’s multi-sectoral group, bringing the voice of the petroleum sector into discussions on tax policies and regulations.
The partnership provides a platform for businesses to share their concerns, offer feedback, and participate in consultations on proposed tax reforms. Through regular dialogue, the BIR aims to develop clearer policies, improve compliance, and streamline tax processes for taxpayers and businesses.
With PIP now part of the group, the petroleum industry gains a stronger avenue to engage with the BIR on issues affecting the sector, while supporting government efforts toward better tax administration and ease of doing business.
The BIR emphasized that collaboration with the private sector is important in building a fair, transparent, and responsive tax system that supports both government revenue goals and business growth. The PIP, on the other hand, expressed its utmost appreciation to the bureau for always being open to holding a dialogue with the PIP and its members. Additionally, the PIP emphasized that being part of the PMSG reflects a shared commitment to nation building, open dialogue, and constructive collaboration between government and industry.
Under the renewed MOA, the BIR-PMSG Member Organizations for 2026 include:
- Philippine Chamber of Commerce and Industry (PCCI)
- Management Association of the Philippines (MAP)
- Tax Management Association of the Philippines (TMAP)
- Philippine Institute of Certified Public Accountants (PICPA)
- Financial Executives Institute of the Philippines (FINEX)
- Association of Certified Public Accountants in Commerce and Industry (ACPACI)
- Association of Certified Public Accountants in Public Practice (ACPAPP)
- Philippine Exporters Confederation, Inc. (PHILEXPORT)
- Joint Foreign Chambers of the Philippines (JFC)
- Federation of Filipino-Chinese Chambers of Commerce and Industry, Inc. (FFCCCII)
- Makati Business Club (MBC)
- Alliance of Tech Innovators for the Nation (ATIN)
- Federation of Indian Chambers of Commerce in the Philippines (FICCI)
- Philippine Institute of Petroleum (PIP)
- Swiss Chamber of the Philippines (SwissCham)


Source:
https://doe.gov.ph/
Source:
https://doe.gov.ph/
The Philippine Institute of Petroleum (PIP) held a meeting with Bureau of Customs (BOC) Deputy Commissioner Nolasco Bathan on 02 December. The meeting, attended by representatives of PIP member companies, namely Chevron, Petron, Shell and PTT, discussed ways to strengthen the government’s fuel-marking program further and intensify efforts against fuel smuggling.

During the meeting, the PIP and the BOC exchanged views on current challenges in implementing and enforcing the fuel-marking program. At present, the fuel marking program remains a vital tool in ensuring tax payment and compliance, protecting government revenues, and promoting fair competition within the downstream petroleum industry. During this meeting, both the PIP and the BOC highlighted the importance of sustained coordination between government and industry to address operational gaps, industry concerns about the program, and smuggling activities more broadly.
Deputy Commissioner Bathan, for his part, acknowledged the concerns raised by PIP member companies and shared the Bureau’s commitment to enhancing inter-agency cooperation, improving monitoring mechanisms, and strengthening enforcement actions against illicit fuel trade. He encourages the PIP to provide industry feedback and recommendations to identify areas for improvement and refine implementation strategies, thereby strengthening the fuel marking program.
PIP reaffirmed its support for government initiatives to curb fuel smuggling and expressed its readiness to continue working closely with the BOC and other relevant agencies.
Oil Monitor as of 17 June 2025
WORLD OIL PRICES (March 09-13, 2025, trading days)
The week-on-week price of Dubai crude has increased by around $3.81 per barrel. The international prices of gasoline and diesel have also increased by about $3.49 per barrel. While kerosene increased by $3.38 per barrel as well.
Reasons for the Price Adjustment1
Crude oil prices moved sharply higher after Israel launched pre-emptive airstrikes against target across Iran. Concerns over shipping passage through the Strait of Hormuz and war risk premiums resurfaced. The escalating Israel-Iran conflict caused widespread panic. Crude sees upside risks on supply disruption fears.
- Israel’s airstrike against Iran prompted fear of supply disruptions from the Middle East. Considering, Iran as the worlds 4th largest oil producer and exports over 2 million bpd of oil. Retaliation of Iran raised concern of an all-out war between the two countries.
- US and China had reached a trade “deal” after two days of negotiations in London, suggesting tensions between the two economic heavyweights could ease. While the US-Iran nuclear negotiations remain stalled.
- Asian refiners and crude traders anticipate the broader Middle Eastern sour crude prices to become increasingly expensive in the upcoming trading cycles due to escalating tensions between Israel and Iran.
The Asian gasoline market strengthened amid escalating tensions between Israel and Iran. Israel launched air strikes targeting Iranian nuclear facilities, with reports that Israeli attacks may continue as they are targeting underground facilities. Gasoline prices are likely to rise amid Middle East conflict.
The market was rangebound tracking gains amid rising demand, but higher crude prices offset the increase. Expectation of lower exports from China in July amid lower refinery output and lower inflows from Middle East into the region. Returning supplies from refineries coming back from maintenance balanced the market.
The Asian gasoil market fell on sell tenders from North Asia and Middle East indicating higher regional supply. Diesel demand was expected from trade negotiations between US and China however the impact was offset by rising crude prices.
FOREX: The week-on-week average of Philippine peso depreciated versus the US dollar by P0.14 to P55.86 from P55.72 in the previous week.
DOMESTIC OIL PRICES
Effective 17 June 2025, the oil companies implemented an increase of P1.80/liter for gasoline and diesel, an increase of P1.50/liter for kerosene as well.
This brings a total net increase of P6.90/liter for gasoline and P6.65/liter for diesel. Kerosene has a total net decrease of P.75/liter.
For the updated prevailing retail pump prices, please refer to this link:
Other recommended reference sites:
- https://www.aip.com.au/pricing
- http:/ /www.indexmundi.com/commodities/?commodity=crude-oil-dubai
- https://www.quandl.com/data/ODA/POILDUB_USD-Dubai-Crude-Oil-Price
For more information, call the
Department of Energy
Pricing: 8840-2187
LPG: 8840-2130
Fuels: 8840-5669
Website: https://www.doe.gov.ph