Metro Manila, Philippines – President Ferdinand Marcos Jr. has reduced excise taxes on liquefied petroleum gas (LPG) by ₱3.36 per liter and on kerosene by ₱5.60 per liter, as the government moves to ease the impact of rising fuel prices.
The cuts were in line with Republic Act 12316, which grants the president authority to suspend or reduce fuel excise taxes when global oil prices reach a certain threshold.
“Binawasan natin ang buwis sa produktong petrolyo na direktang ginagamit sa pang-araw-araw na buhay,” Marcos said.
[Translation: We reduced taxes on petroleum products directly used in daily life.]
The law, signed on March 25, allows the president to act when the average Dubai crude oil price reaches or exceeds $80 per barrel for one month, upon recommendation of the Development Budget Coordination Committee and in coordination with the Department of Energy.
Any reduction or suspension may be applied for up to three months at a time, with a total duration not exceeding one year. The authority is effective until Dec. 31, 2028.
Marcos said the government is taking a calibrated approach to manage the impact of higher oil prices, noting that changes in one sector could affect others.
“Hindi ito pwedeng gawing basta-basta… bawat hakbang malinaw ang proteksyon sa ating lokal na produksyon,” he said.
[Translation: This cannot be done hastily… every step must clearly protect local production.]
He said the government continues to implement other measures to address rising costs, including efforts to stabilize supply and support key sectors affected by higher fuel prices.
