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Philippines' Marcos suspends taxes on fuel products
The move cuts prices by P3.36 per kilo of LPG and P5.60 per liter of kerosene, Marcos said.
- Rising fuel costs surged to historic highs after the United States and Israel launched strikes on Iran on February 28, effectively closing the vital Strait of Hormuz to traffic.
- Marcos stated the tax cut reduces LPG costs by P3.36 per kilogram, or roughly P37 per tank, while kerosene prices will drop by P5.60 per liter starting April 14.
- Gasoline and diesel excise taxes remain under review, as Malacañang noted any decision must balance consumer relief with government revenue for social programs and infrastructure.
- Transport groups and lawmakers continue calling for a 12-percent value-added tax suspension on petroleum products, though officials warn this could widen the national deficit by P120 billion.
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15 Articles
15 Articles
Philippine President Ferdinand Marcos has said the government is abolishing excise taxes on gasoline and liquefied gas to curb rising food prices and inflationary pressures.
Philippines' Marcos suspends taxes on kerosene, LPG; no reduction yet on diesel, petrol
Marcos did not say how long the suspension will last. An interagency committee will meet on April 14 to discuss whether to suspend, reduce, or maintain excise taxes on gasoline and diesel
·Dubai, United Arab Emirates (the)
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President Ferdinand “Bongbong” Marcos Jr. announced on Monday that he has removed the excise tax on Liquefied Petroleum Gas (LPG) and kerosene amid high crude oil prices in the country due to unrest in the Middle East.
·Quezon City, Philippines (the)
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Total News Sources15
Leaning Left6Leaning Right4Center1Last UpdatedBias Distribution55% Left
Bias Distribution
- 55% of the sources lean Left
55% Left
L 55%
R 36%
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