Republic of the Philippines 
HOUSE OF REPRESENTATIVES 
Quezon City, Metro Manila 
NINETEENTH CONGRESS 
First Regular Session 
HOUSE BILL NO. 
Introduced by Representative Hon. Christopher “Toff” V.P. de Venecia 
_ 
AN ACT 
AMENDING SECTION 148 AND ADDING SECTIONS 148-B, 148-C, AND 148-D IN 
THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED 
EXPLANATORY NOTE 
On July 2017, the President signed Republic Act No. 10963, otherwise known as the Tax 
Reform Acceleration and Inclusion (TRAIN) Law, a tax reform which aimed to make our tax 
system a more progressive and inclusive one. One feature of the TRAIN Law was the gradual 
increase of excise tax rates on oil products between the years 2018 to 2020.  
Unfortunately, and unexpectedly, the imposition of the excise tax was coupled with the 
continued increase in the global oil prices, which was further exacerbated by the conflict 
between Russia and Ukraine. As a result, gas prices have resulted into weekly increases, 
burdening the common Filipino who relies on gas on the daily for transportation. Even further, 
the additional spending for gas would mean that less would be allocated for the payment of other 
daily goods such as food, water, and housing. 
This bill aims to provide relief by temporarily reducing or suspending the excise tax 
collection. This bill also mandates a price of 65USD based on the Dubai MOPS pricing in order 
for threshold prices to go down before excise taxes on oil revert to their original rates. 
In view of the foregoing, the passage of this bill is earnestly sought. 
HON. CHRISTOPHER V.P. DE VENECIA 
Fourth District, Pangasinan
November 29, 2022
8:00 am
6421


Republic of the Philippines 
HOUSE OF REPRESENTATIVES 
Quezon City, Metro Manila 
NINETEENTH CONGRESS 
First Regular Session 
HOUSE BILL NO. 
Introduced by Representative Hon. Christopher “Toff” V.P. de Venecia 
AN ACT 
AMENDING SECTION 148 AND ADDING SECTIONS 148-B, 148-C, AND 148-D IN 
THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED 
Be it enacted by the Senate and the House of Representatives of the Philippines in 
Congress assembled: 
SECTION 1. Section 148 of the National Internal Revenue Code, as amended, is 
hereby further amended to read as follows: 
“SEC. 148. Manufactured Oils and Other Fuels. - There shall be collected on refined 
and manufactured mineral oils and motor fuels, the following excise taxes which shall 
attach to the goods hereunder enumerated as soon as they are in existence as such: 
“[Effective January 1, 2018 
(a) Lubricating oils and greases, including but not limited to, basestock for lube oils
and greases, high vacuum distillates, aromatic extracts, and other similar preparations, and
additives for lubricating oils and greases, whether such additives are petroleum based or
not, per liter and kilogram respectively, of volume capacity or weight, Eight pesos (P8.00):
Provided, That lubricating oils and greases produced from basestocks and additives on
which the excise tax has already been paid shall no longer be subject to excise tax:
Provided, further, That locally produced or imported oils previously taxed as such but are
subsequently reprocessed, re-refined or recycled shall likewise be subject to the tax
imposed 
under 
this 
Section.
6421


(b) Processed gas, per liter of volume capacity, Eight pesos (P8.00)
(c) Waxes and petrolatum, per kilogram, Eight pesos (P8.00);
(d) On denatured alcohol to be used for motive power, per liter of volume capacity, Eight
pesos (8.00): Provided, That unless otherwise provided by special laws, if the denatured
alcohol is mixed with gasoline, the excise tax on which has already been paid, only the
alcohol content shall be subject to the tax herein prescribed. For purposes of this
Subsection, the removal of denatured alcohol of not less than one hundred eighty degrees
(180◦) proof (ninety percent (90%) absolute alcohol) shall be deemed to have been
removed for motive power, unless shown otherwise;
(e) Naphtha, regular gasoline, pyrolysis gasoline and other similar products of distillation,
per liter of volume capacity, Seven pesos (P7.00): Provided, however, That naphtha and
pyrolysis gasoline, when used as a raw material in the reproduction of petrochemical
products or in refining of petroleum products, or as replacement fuel for natural-gas-fired-
combined cycle power plant in lieu of locally- extracted natural gas during the non-
availability thereof, subject to the rules and regulations to be promulgated by the Secretary
of Finance, per liter of volume capacity, zero (P0.00): Provided, further, That the
production of petroleum products, whether or not they are classified as products of
distillation and for use solely for the production of gasoline shall be exempt from excise
tax: Provided, finally, That the by-product including fuel oil, diesel fuel, kerosene,
pyrolysis gasoline, liquefied petroleum gases and similar oils having more or less the same
generating power, which are produced in the processing of naphtha into petrochemical
products shall be subject to the applicable excise tax specified in this Section, except when
such by-products are transferred to any of the local oil refineries through sale, barter or
exchange, for the purpose of further processing or blending into finished products which
are subject to excise tax under this Section;
(f) Unleaded premium gasoline, per liter of volume capacity, Seven pesos (P7.00):
(g) Aviation turbo jet fuel, aviation gas, per liter of volume capacity, Four pesos
(P4.00);
(h) Kerosene, per liter of volume capacity, Three pesos (P3.00): Provided, That kerosene,
when used as aviation fuel, shall be subject to the same tax on aviation turbo jet fuel under
the preceding paragraph (g), such tax to be assessed on the user thereof;
(i) Diesel fuel oil, and on similar fuel oils having more or less the same generating
power, per liter of volume capacity, Two pesos and fifty centavos (P2.50):


 
 
(j) Liquefied petroleum gas, per kilogram, One peso (P1.00): Provided, That liquefied 
petroleum gas when used as raw material in the production of petrochemical products, 
subject to the rules and regulations to be promulgated by the Secretary of Finance, shall be 
taxed zero (P0.00) per kilogram: Provided, finally, That liquefied petroleum gas used for 
motive power shall be taxed at the equivalent rate as the excise tax on diesel fuel oil; 
 
 
(k) Asphalts, per kilogram, Eight pesos (P8.00) 
 
(l) Bunker fuel oil, and on similar fuel oils having more or less the same generating power, 
per liter of volume capacity, Two pesos and fifty centavos (P2.50): Provided, however, 
That the  excise  taxes paid  on  the  purchased barestock (bunker) used in the manufacture 
of excisable articles and forming part thereof shall be credited against the excise tax due 
therefrom; and 
 
(m) Petroleum coke, per metric ton, Two pesos and fifty centavos (P2.50): Provided, 
however, That petroleum coke, when used as feedstock to any power 
generating facility, per metric ton, zero (P0.00).] 
 
 
[Effective January 1, 2019 
 
(a) Lubricating oils and greases, including but not limited to, basestock for lube oils and 
greases, high vacuum distillates, aromatic extracts, and other similar preparations, and 
additives for lubricating oils and greases, whether such additives are petroleum based or 
not, per liter and kilogram respectively, of volume capacity or weight, Nine pesos (P9.00): 
Provided, That lubricating oils and greases produced from basestocks and additives on 
which the excise tax has already been paid shall no longer be subject to excise tax: 
Provided, further, That locally produced or imported oils previously taxed as such but are 
subsequently reprocessed, re-refined or recycled shall likewise be subject to the tax 
imposed under this Section. 
 
 
(b) Processed gas, per liter of volume capacity, Nine pesos (P9.00) 
 
 
(c) Waxes and petrolatum, per kilogram, Nine pesos (P9.00); 
 
(d) On denatured alcohol to be used for motive power, per liter of volume capacity, Nine 
pesos (9.00): Provided, That unless otherwise provided by special laws, if the denatured 
alcohol is mixed with gasoline, the excise tax on which has already been paid, only the 
alcohol content shall be subject to the tax herein prescribed. For purposes of this 
Subsection, the removal of denatured alcohol of not less than one hundred eighty degrees 
(180◦) proof (ninety percent (90%) absolute alcohol) shall be deemed to have been 
removed 
for 
motive 
power, 
unless 
shown 
otherwise;


 
 
 
(e) Naphtha, regular gasoline, pyrolysis gasoline and other similar products of distillation, 
per liter of volume capacity, Nine pesos (P9.00): Provided, however, That naphtha and 
pyrolysis gasoline, when used as a raw material in the reproduction of petrochemical 
products or in refining of petroleum products, or as replacement fuel for natural-gas-fired-
combined cycle power plant in lieu of locally- extracted natural gas during the non-
availability thereof, subject to the rules and regulations to be promulgated by the Secretary 
of Finance, per liter of volume capacity, zero (P0.00): Provided, further, That the 
production of petroleum products, whether or not they are classified as products of 
distillation and for use solely for the production of gasoline shall be exempt from excise 
tax: Provided, finally, That the by-product including fuel oil, diesel fuel, kerosene, 
pyrolysis gasoline, liquefied petroleum gases and similar oils having more or less the same 
generating power, which are produced in the processing of naphtha into petrochemical 
products shall be subject to the applicable excise tax specified in this Section, except when 
such by-products are transferred to any of the local oil refineries through sale, barter or 
exchange, for the purpose of further processing or blending into finished products which 
are subject to excise tax under this Section; 
 
 
(f) Unleaded premium gasoline, per liter of volume capacity, Nine pesos (P9.00): 
 
 
(g) Aviation turbo jet fuel, aviation gas, per liter of volume capacity, Four pesos 
 
(P4.00); 
 
(h) Kerosene, per liter of volume capacity, Four pesos (P4.00): Provided, That kerosene, 
when used as aviation fuel, shall be subject to the same tax on aviation turbo jet fuel under 
the preceding paragraph (g), such tax to be assessed on the user thereof; 
 
(i) Diesel fuel oil, and on similar fuel oils having more or less the same generating 
power, per liter of volume capacity, Two pesos and fifty centavos (P2.50): 
 
(j) Liquefied petroleum gas, per kilogram, Two pesos (P2.00): Provided, That liquefied 
petroleum gas when used as raw material in the production of petrochemical products, 
subject to the rules and regulations to be promulgated by the Secretary of Finance, shall be 
taxed zero (P0.00) per kilogram: Provided, finally, That liquefied petroleum gas used for 
motive power shall be taxed at the equivalent rate as the excise tax on diesel fuel oil; 
 
 
(k) 
Asphalts, 
per 
kilogram, 
Nine 
pesos 
(P9.00)


 
 
(l) Bunker fuel oil, and on similar fuel oils having more or less the same generating power, 
per liter of volume capacity, Four pesos and fifty centavos (P4.50): Provided, however, 
That the  excise  taxes paid  on  the  purchased barestock (bunker) used in the manufacture 
of excisable articles and forming part thereof shall be credited against the excise tax due 
therefrom; and 
 
(m) Petroleum coke, per  metric ton, Four  pesos and fifty centavos (P4.50): Provided, 
however, That petroleum coke, when used as feedstock to any power generating facility, 
per metric ton, zero (P0.00). 
 
 
“Effective January 1, 2020] 
 
“(a) Lubricating oils and greases, including but not limited to, basestock for lube oils and 
greases, high vacuum distillates, aromatic extracts, and other similar preparations, and 
additives for lubricating oils and greases, whether such additives are petroleum based or 
not, per liter and kilogram respectively, of volume capacity or weight, Ten pesos (P10.00): 
Provided, That lubricating oils and greases produced from basestocks and additives on 
which the excise tax has already been paid shall no longer be subject to excise tax: 
Provided, further, That locally produced or imported oils previously taxed as such but are 
subsequently reprocessed, re-refined or recycled shall likewise be subject to the tax 
imposed under this Section. 
 
 
“(b) x x x 
 
 
“(c) x x x 
 
 
“(d) x x x 
 
“(e) Naphtha, [regular] gasoline, WITH NINETY-ONE (91) RESEARCH OCTANE 
NUMBER (RON) AND BELOW, pyrolysis gasoline and other similar products of 
distillation, per liter of volume capacity, Ten pesos (P10.00): PROVIDED, THAT 
FOR THE PERIOD OF SIX (6) MONTHS AFTER THE EFFECTIVITY OF THIS 
ACT, THE EXCISE TAX ON GASOLINE WITH NINETY-ONE (91) RON AND 
BELOW SHALL BE FOUR PESOS AND THIRTY FIVE CENTAVOS (P4.35): 
PROVIDED, FURTHER, THAT THIS RATE SHALL REVERT TO TEN PESOS 
(P10.00) WHEN THE AVERAGE DUBAI CRUDE OIL BASED ON MEAN OF 
PLATTS 
SINGAPORE 
(MOPS) 
FOR FOUR (4) 
SUCCESSIVE
 WEEKS DECLINES TO SIXTY-FIVE DOLLARS (USD65) OR LOWER; Provided, 
however, That naphtha and pyrolysis gasoline, when used as a raw material in the 
reproduction of petrochemical products or in refining of petroleum products, or as 
replacement fuel for natural-gas-fired-combined cycle power plant in lieu of locally-


 
extracted natural gas during the non-availability thereof, subject to the rules and 
regulations to be promulgated by the Secretary of Finance, per liter of volume capacity, 
zero PESOS (P0.00): Provided, [further]FURTHERMORE, That the production of 
petroleum products, whether or not they are classified as products of distillation and for 
use solely for the production of gasoline shall be exempt from excise tax: Provided, 
finally, That the by-product including fuel oil, diesel fuel, kerosene, pyrolysis gasoline, 
liquefied petroleum gases and similar oils having more or less the same generating power, 
which are produced in the processing of 
naphtha into petrochemical products shall be subject to the applicable excise tax specified 
in this Section, except when such by-products are transferred to any of the local oil 
refineries through sale, barter or exchange, for the purpose of further processing or 
blending into finished products which are subject to excise tax under this Section; 
 
“(f) [Unleaded premium gasoline] GASOLINE WITH OCTANE NUMBER ABOVE 
NINETY-ONE (91) RON, per liter of volume capacity, Ten pesos (P10.00): PROVIDED, 
THAT FOR THE PERIOD OF SIX (6) MONTHS AFTER THE EFFECTIVITY OF 
THIS ACT, THE EXCISE TAX UNDER THIS PARAGRAPH SHALL BE SEVEN 
PESOS (P7.00): PROVIDED, FURTHER, THAT THIS RATE SHALL REVERT TO 
TEN PESOS (P10.00) WHEN THE AVERAGE DUBAI CRUDE OIL BASED ON 
MEAN OF PLATTS SINGAPORE (MOPS) FOR FOUR (4) SUCCESSIVE 
WEEKS DECLINES TO SIXTY-FIVE DOLLARS (USD 65) OR LOWER; 
 
 
“(g) Aviation turbo jet fuel, aviation gas, per liter of volume capacity, Four pesos  
 
(P4.00); 
 
“(h) Kerosene, per liter of volume capacity, Five pesos (P5.00): PROVIDED, THAT FOR 
THE PERIOD OF SIX (6) MONTHS AFTER THE EFFECTIVITY OF THIS ACT, 
THE EXCISE TAX UNDER THIS PARAGRAPH SHALL BE ZERO PESOS 
(P0.00): Provided, FURTHER, That kerosene, when used as aviation fuel, shall be 
subject to the same tax on aviation turbo jet fuel under the preceding paragraph (g), such 
tax to be assessed on the user thereof; PROVIDED, FINALLY, THAT THE RATE OF 
TAX UNDER THIS PARAGRAPH SHALL REVERT TO FIVE PESOS (P5.00) 
WHEN THE AVERAGE DUBAI CRUDE OIL PRICE BASED ON MOPS FOR 
FOUR (4) SUCCESSIVE WEEKS DECLINES TO SIXTY-FIVE DOLLARS (USD 
65) OR LOWER. 
 
“(i) Diesel fuel oil, and on similar fuel oils having more or less the same generating power, 
per liter of volume capacity, Six pesos (P6.00): PROVIDED, THAT FOR THE PERIOD 
OF SIX (6) MONTHS AFTER THE EFFECTIVITY OF THIS ACT, THE EXCISE  
TAX UNDER THIS  PARAGRAPH SHALL BE ZERO PESOS (P0.00); 
PROVIDED, FURTHER, THAT THE RATE OF TAX UNDER THIS PARAGRAPH 
SHALL REVERT TO SIX PESOS (P6.00) WHEN THE AVERAGE DUBAI 
CRUDE OIL PRICE BASED ON MOPS  FOR FOUR SUCCESSIVE 
WEEKS DECLINES TO SIXTY-FIVE DOLLARS (USD 65) OR LOWER. 


 
 
“(j) Liquefied petroleum gas, per kilogram, Three pesos (P3.00): PROVIDED,  
 
THAT FOR THE PERIOD OF SIX (6) MONTHS AFTER THE 
EFFECTIVITY OF THIS ACT, THE EXCISE TAX UNDER THIS PARAGRAPH 
SHALL BE ZERO PESOS (P0.00); PROVIDED, FURTHER, THAT THIS RATE 
SHALL REVERT TO THREE PESOS (P3.00) WHEN THE AVERAGE 
LIQUEFIED PETROLEUM GAS PRICE PRICE BASED ON SAUDI ARAMCO’S 
CONTRACT PRICE FOR TWO (2) SUCCESSIVE MONTHS DECLINES TO FIVE 
HUNDRED EIGHTY DOLLARS (USD 580) PER METRIC TON OR LOWER: 
Provided, That liquefied petroleum gas when used as raw material in the production of 
petrochemical products, subject to the rules and regulations to be promulgated by the 
Secretary of Finance, shall be taxed zero (P0.00) per kilogram: Provided, finally, That 
liquefied petroleum gas used for motive power shall be taxed at the equivalent rate as the 
excise tax on diesel fuel oil; 
 
 
“(k) x x x 
 
 
“(l) x x x 
 
 
“(m) x x x 
 
“Petroleum products, including naptha, LPG, petroleum coke, refinery fuel and 
other products of distillation, when used as input, feedstock or as raw material in 
the manufacturing of petrochemical products, or in the refining of petroleum 
products, or as replacement fuel for natural-gas-fired-combined cycle power plant 
in lieu of locally-extracted natural gas during the non-availability thereof, subject to 
the rules and regulations to be promulgated by the Secretary of Finance, per liter of 
volume capacity, zero PESO (P0.00): Provided, That the by-product including fuel 
oil, diesel fuel, kerosene, pyrolysis, gasoline, liquefied petroleum gases, and similar 
oils having more or les the same generating power; which are produced in the 
processing of naptha in this Section, except when such by-products are transferred 
to any of the local oil refineries through sale, barter or exchange, for the purpose of 
further processing or blending into finished products which are subject to excise tax 
under this Section. 
 
“[For the period covering 2018 to 2020, the scheduled increase in the excise tax on 
fuel as imposed in this Section shall be suspended when the average Dubai crude 
oil price based on Mean of Platts Singapore (MOPS) for three (3) months prior to 
the scheduled increase of the month reaches or exceeds Eighty dollars (USD 80) 
per 
barrel.]


 
 
“[Provided, That the Department of Finance] THE DEVELOPMENT BUDGET 
COORDINATION COMMITTEE (DBCC) shall perform an annual review of the 
implementation of the excise tax on fuel and shall, based on projections AND 
ASSESSMENT OF [provided and recommendations of the Development Budget 
Coordination Committee, as reconciled from] the conditions as provided above, 
recommend TO THE PRESIDENT the [implementation or] suspension OR 
REDUCTION of the excise tax [on  fuel] UNDER THIS SECTION: Provided, [further,] 
That the recommendation shall be given on a yearly basis[:] [Provided, finally, That any 
suspension of the increase in excise tax shall not result in any reduction of the excise tax 
being imposed at the time of the suspension. ] 
 
SEC. 2. A new section designated as Section 148-B of the National Internal Revenue Code 
of 1997, as amended, is hereby added, to read as follows: 
 
“SEC. 148-B. PRICE MONITORING – OIL COMPANIES SHALL NOTIFY THE 
DEPARTMENT OF ENERGY (DOE) AND THE DEPARTMENT OF FINANCE 
(DOF) OF THE RETAIL PRICES, INCLUDING TAXES, OF GASOLINE, 
KEROSENE, DIESEL FUEL OIL, LPG, AND SIMILAR FUEL OILS HAVING 
MORE OR LESS THE SAME GENERATING POWER A DAY BEFORE THE 
IMPLEMENTATION OF THE SIX-MONTH EXCISE TAX RATE ADJUSTMENT, 
AND OF EVERY CHANGE IN THE RETAIL PRICE UNTIL THE END OF THE 
SAID SIX-MONTH PERIOD, 
STATING 
IN 
EACH NOTIFICATION THE 
JUSTIFICATION FOR SUCH CHANGES. THE DOE AND THE DOF SHALL 
JOINTLY ISSUE GUIDELINES PROVIDING A REPORTING MECHANISM FOR 
THIS PURPOSE. 
 
THE DOE AND DOF SHALL FURNISH DATA SUBMITTED UNDER THIS 
SECTION TO THE DOE-DOJ TASK FORCE CREATED UNDER SECTION 14(D) 
OF REPUBLIC ACT NO. 8479, OTHERWISE KNOWN AS THE DOWNSTREAM 
OIL 
INDUSTRY DEREGULATION ACT OF 
1998, FOR 
APPROPRIATE ACTION. 
 
SEC. 3. A new section designated as Section 148-C of the National Internal 
Revenue Code of 1997, as amended, is hereby added, to read as follows: 
 
SEC. 148-C. SOCIAL IMPACT STABILIZATION FUND. – NOTWITHSTANDING 
THE EXCISE TAX IMPOSED UNDER SECTION 148 (E), (F), AND (I) OF THIS 
ACT, AN ADDITIONAL EXCISE TAX OF TWO PESOS (P2.00) PER LITER OF 
VOLUME SHALL BE COLLECTED ON GASOLINE, DIESEL FUEL OIL, AND 
ON SIMILAR FUEL OILS HAVING MORE OR LESS THE SAME GENERATING 
POWER, WHEN THE AVERAGE DUBAI CRUDE OIL PRICES BASED ON 
MOPS FOR THREE (3) SUCCESSIVE MONTHS DECLINES TO FORTY-FIVE 
DOLLARS (USD 45) OR LOWER. THE REVENUE COLLECTED FROM THE 


 
ADDITIONAL EXCISE TAX SHALL CONSTITUTE THE SOCIAL IMPACT 
STABILIZATION FUND WHICH SHALL BE UTILIZED BY THE DEPARTMENT 
OF SOCIAL WELFARE AND DEVELOPMENT (DSWD) FOR DISTRIBUTING 
CASH AID TO AFFECTED LAND PUBLIC TRANSPORT ENTITIES SUCH AS 
THE OPERATORS OF PUBLIC UTILITY VEHICLES, TAXIS, TRANSPORT 
NETWORK VEHICLE SERVICES, AND TRICYCLES, DURING THE PERIODS 
OF HIGH PETROLEUM PRICES: PROVIDED, THAT THE DSWD AND THE 
DEPARTMENT OF TRANSPORTATION SHALL JOINTLY PREPARE THE 
IMPLEMENTING RULES AND REGULATIONS FOR THE ADMINISTRATION 
OF THE SOCIAL IMPACT STABILIZATION FUND. 
 
SEC. 4. Implementing Rules and Regulations. – Within thirty (30) days from the 
effectivity of this Act, the Secretary of Finance shall, upon the recommendation of the 
Commissioner of Internal Revenue, promulgate the necessary rules and regulations for its 
effective implementation. 
 
SEC. 5. Separability Clause. – If any of the sections or provisions of this Act is held 
invalid, all the other provisions not affected thereby shall remain in full force and effect. 
 
SEC. 6. Repealing Clause – The provisions of the National Internal Revenue Code 
of 1997, as amended, shall continue to have full force and effect, except insofar as they are 
inconsistent with this Act. 
 
SEC. 7. Effectivity. –This Act shall take effect fifteen (15) days after its publication 
in the Official Gazette or in a newspaper of general circulation. 
 
 
Approved,