Philippines Suspends LPG, Kerosene Excise over Mideast War
The relief excludes gasoline and diesel and can last up to three months after Dubai crude averaged $99.41 per barrel, the DOE said.
- On Friday, Philippine President Ferdinand Marcos Jr. signed Executive Order 125, temporarily suspending excise taxes on liquefied petroleum gas and kerosene for up to 3 months to mitigate soaring fuel costs.
- The Department of Energy certified the one-month average price of Dubai crude oil reached $99.41 per barrel, exceeding the $80 threshold required under Republic Act 12316 to trigger the suspension.
- Excluding gasoline and diesel, which have faced sharp price increases, the suspension will automatically revert if Dubai crude oil falls below $80 per barrel or after 3 months, whichever comes first.
- Analysts at the IBON Foundation argue that 6.8 million of the poorest families will receive no benefit, describing the measure as providing only "negligible relief" to consumers and businesses.
- Facing pressure from threats of a nationwide transport strike next week, Marcos previously suspended these taxes in April, marking the second time this year he has invoked this emergency authority.
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14 Articles
‘Government to lose P700 million monthly in excise tax suspension’
The government stands to lose at least P700 million a month in revenues after President Marcos suspended the excise tax on liquefied petroleum gas (LPG) and kerosene, Customs Commissioner Ariel Nepomuceno said yesterday.
Channel News Asia
PressNewsAgencyPhilippines suspends LPG, kerosene excise over Mideast war
MANILA: The Philippines temporarily suspended excise duties on petroleum products used for cooking, the presidential palace said on Friday (Sep 25), as it struggles to deal with soaring fuel costs from the Middle East war.The temporary suspension covers liquefied petroleum gas (LPG), the country's main fuel f
Marcos suspends excise taxes on LPG, kerosene anew
The tax relief does not extend to gasoline and diesel, as Finance Secretary Frederick Go says this would 'not be progressive' because higher-income consumers who use more of the two fuels would capture more of the benefit
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