Fuel marking to have 'negligible' effect on inflation — DOF

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Metro Manila (CNN Philippines, February 27) — In an attempt to curb fuel smuggling in the country, the revenue collection agencies of the government will fully implement the fuel marking scheme under the tax reform program.

Fuel imported to the Philippines would be marked by adding a chemical to signify that it went through the proper channels.

In a press briefing in Malacañang, Department of Finance (DoF) Assistant Secretary Tony Lambino assured that this would have a 'negligible' effect on oil prices.

"Napakababa po ng contribution nito. So, negligible po pagdating sa inflation," Lambino said.

[Translation: This is a very small price, it's negligible when it comes to inflation.]

He added that this measure would cost the government less than ₱3 to mark what would translate to a full tank of gas for a standard car.

The funds for marking would be shouldered by a fund in the national budget for the first year of implementation.

Further funds for fuel marking will be sourced from the fuel marking trust receipts from the second to fifth year of implementation.

This does not mean that the government will be lax in stopping smuggled fuel from entering the country, Lambino added.

"Pa-iigtingin yung efforts on the smuggling itself. Post-smuggling mahuhuli pa rin po ang smuggled fuel," he said.

[Translation: We will increase our efforts against smuggling itself. We can still identify smuggled fuel after it has entered the country.]