Philippines Suspends Excise Taxes on LPG and Kerosene

MANILA, Philippines - President Ferdinand Marcos Jr. announced on Monday, April 13, the suspension of excise taxes on liquefied petroleum gas (LPG) and kerosene, aiming to ease the financial strain on households amid soaring fuel prices triggered by the ongoing Middle East conflict.

The decision, effective immediately under emergency powers granted by Congress through Republic Act No. 12316, targets essential fuels used for cooking and lighting in many Philippine homes. Marcos stated during a press conference that the move would reduce LPG prices by 3.36 Philippine pesos per kilogram, equivalent to nearly 37 pesos per tank, and lower kerosene costs by 5.60 to 5.65 pesos per liter. "We reduced the taxes on essential products that are directly used in everyday life," Marcos said. "This means the cost of cooking and daily necessities will go down."

The Philippines, heavily reliant on imported fuel, has seen diesel and gasoline prices more than double since the conflict escalated on February 28. Local pump prices reached historic highs last week, with gasoline marking its 13th consecutive weekly increase and diesel its 15th. The central bank reported headline inflation climbing to...