EXECUTIVE ORDER NO. 794

: The President has the power to adjust tariff rates in the interest of the national economy, general welfare, and/or national security, subject to certain limitations.
: The President can authorize tax and duty free importation under Presidential Decree No. 1610.
: Fuel oil (under LOI No. 837), diesel fuel, and kerosene (under LOI No. 839) were granted tax and duty free importation.
: The President directed the lifting of tax and duty exemption on premium and regular motor gasoline, naphtha, natural gas liquids, and kerosene under LOI No. 1068.
: The tax and duty exemption on liquefied petroleum gas was lifted under LOI No. 1135.
: Fuel oil and diesel fuel remained exempt from duties and importation taxes.
: The exemption was limited only to the state-owned Philippine National Oil Company to prevent windfall profits by private oil companies and recover revenue loss.
: Section 1 of Executive Order No. 794 withdraws the tax and duty exemption on diesel fuel.
: The Philippine National Oil Company is authorized to continue importing diesel fuel tax and duty free, upon prior clearance from the Bureau of Energy Utilization.
: To alleviate the diesel fuel supply shortage in the country while controlling windfall profits by private companies.
: The Order took effect immediately upon issuance on April 6, 1982.