Only small oil players should be afforded the benefit of the complete reduction of the tariff on oil imports.

Such was the stand of the militant transport group Pinagka-Isang Samahan ng mga Tsuper at Opereytor Nationwide (PISTON) on the government’s plan to drop the duty rate on crude oil and refined petroleum products from the current 3 percent to zero percent.

PISTON Secretary General George San Mateo said that giving the zero tariff benefit to major oil companies such as Pilipinas Shell, Petron Corp. and Chevron Philippines (formerly Caltex) would only translate to losses of billions worth of tax money for the government.

According to San Mateo, the government stands to lose P5 billion in revenue once the tariff reduction is enforced. The three oil giants, or “Big Three,” make up for at least 70 percent of all petroleum products in the local oil market.

The transport leader claimed that it would be better if the tariff cut was exclusive to small or independent oil companies, which are considered “lightweights” when compared to the big trio.

San Mateo expressed concern that the oil giants might use the scrapping of import taxes as a means of boosting their attempts at profiteering. The 200,000-member PISTON has openly and repeatedly accused the Big Three of dictating fuel prices via a “cartel.”

Likewise, the major transport group is holding its breath as far as the current wave of fuel price rollbacks is concerned.

Last May, oil firms enforced five consecutive cutbacks, which pulled down pump prices by as much as P3.75 a liter.