Philippine President Ferdinand Marcos Jr. has suspended excise taxes on liquefied petroleum gas (LPG) and kerosene, effective April 14, as part of efforts to lower rising fuel prices, according to multiple reports including the Philippine Daily Inquirer. The government expects LPG prices to decrease by ₱37 per cylinder and kerosene by ₱5.65 per liter following the tax suspension, which was authorized under a new law permitting the president to cut or eliminate fuel taxes.
In addition to the tax suspension, Marcos announced a rollback on other fuel prices, reducing diesel by ₱20.89 per liter, gasoline by ₱4.43, and kerosene by ₱8.50 as detailed by the Philippine Daily Inquirer and Rappler. House Speaker Faustino Dy welcomed the rollback, emphasizing that the measures will provide immediate financial relief to Filipino consumers facing inflationary pressures.
The excise tax suspension responds to escalating fuel costs linked to geopolitical tensions in the Middle East, noted Rappler. There is ongoing discussion within government circles about the potential removal of value-added tax (VAT) on fuel products to further ease the economic burden on households and businesses that rely heavily on these energy sources.
Presidential spokesperson Claire Castro confirmed that Marcos had been granted emergency powers starting April 12 to decide on fuel tax adjustments and that a formal announcement of the suspension and price cuts was made by April 14. This signaling of executive authority underscores the administration’s readiness to act swiftly to combat inflation and stabilize commodity prices.
Moving forward, attention will focus on whether additional fiscal relief measures, such as further excise tax reductions or VAT exemptions, will be implemented to sustain lower fuel costs. The effectiveness of these interventions in curbing inflation and their impact on government revenues will be closely monitored in the coming months.
Ferdinand Marcos Jr.
Philippines
Manila
