Gas, Power prices to surge on Nov. 1

Uhmmmm... should we stock up on supplies and goods na?

From the Tribune:

The nation is in for a painful Halloween treat from the Arroyo government with substantial increases in fuel and electricity prices likely on Nov. 1 after the Supreme Court (SC) yesterday lifted a freeze order on the expanded value added tax (e-VAT) law.

Gas prices will increase between P3.50 and P4 per liter next month placing the average price of fuel products to P40 per liter and electricity bills will rise 52 centavos per kilowatt hour, or about P100 more for bills of an average household using 200 kilowatts of electricity a month.

Oil and utility companies are still determining the actual increases as of press time.

The increases would likely exceed 10 percent, which is the e-VAT rate, because of the 70 percent cap on the input VAT that businesses can credit from e-VAT payments.

Ang masama pa nito is that while this administration is willing to raise taxes on us, ayaw naman ng mga tongressman at administration i-give up ang mga pork barrel nila at magtipid.

Sa panahon ng taghirap, gusto lang nilang gumastos ng gumastos. Ina nila!

Related:

- Largest Pork Barrel in RP history
- Now I know where my taxes are going, thanks Mrs. Arroyo