Executive Order No. 550 (1979) — NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, and by Section 158-A of the National Internal Revenue Code, as amended by Presidential Decree No. 1393, do hereby order as follows:

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Sec. 1 Sec. 2 · This Executive Order shall take effect on August 1, 1979

Sec. 1

Sec. 1. The rates of specific tax on gasoline under Section 153(c) of the National Internal Revenue Code of 1977, as amended, are hereby revised, to wit:

Regular gasoline

P0.62 per liter

Premium gasoline

0.67 per liter

Sec. 2

This Executive Order shall take effect on August 1, 1979

Sec. 2. This Executive Order shall take effect on August 1, 1979.

Done in the City of Manila, this 1st day of August, in the year of Our Lord, nineteen hundred and seventy-nine.