Bayan’s worst-case scenario: P50 per liter gasoline, P700 LPG
Unless government removes the 12 percent value added tax (VAT) on oil and repeal the Oil Deregulation Law, the country is facing as much as P50 per liter in gasoline prices and more than P700 in LPG retail prices by the end of the year, umbrella group Bagong Alyansang Makabayan (Bayan) disclosed.
