The PSRL, which was implemented under the Energy Sector Levies Act 2015 (Act 899), gives the NPA the authority to maintain consumer petroleum prices for predetermined durations. The current rates for gasoline are 16 pesos per liter, diesel is 14 pesos per liter, and LPG is 14 pesos per kilogram.
The government’s proactive attempt to reduce the effects of volatile fuel prices on consumers is evident in this move.
Similar measures have been taken in the past to give consumers respite during times of price volatility.
Although the PSRL suspension provides consumers with a little reprieve, it is nonetheless subject to periodic review depending on current market conditions.
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