Marcos suspends excise tax on kerosene, LPG; waives tariff on food imports
MANILA, Philippines — President Ferdinand Marcos Jr. on Monday, April 13, announced the suspension of excise taxes on liquefied petroleum gas (LPG) and kerosene.
At a press briefing in Malacañang, Marcos said the government decided to remove taxes on fuel products used for everyday needs.
"Tinanggal ko na ang excise tax sa LPG at sa kerosene," Marcos said. (I have removed the excise tax on LPG and kerosene.)
The move removes P3.36 per kilo of LPG, or about P37 per tank, Marcos said.
For kerosene, the suspension removes P5.56 per liter.
Diesel, gasoline still under review. Despite calls from transport groups, Marcos has yet to suspend taxes on other fuel products such as diesel and gasoline.
He said the matter would be discussed with his Cabinet in a meeting the following day, Tuesday.
Tariffs cut to ease food prices
Marcos also ordered a reduction in tariffs to help bring down food prices.
He said the measure aims to ease the burden on consumers while ensuring protection for local agriculture.
"That is the balance that we are looking for," Marcos said.
Oil prices have risen amid the US-Israel conflict with Iran, followed by an acceleration in inflation to 4.1% for March beyond economic manager's target.
The Philippines imports most of its fuel, and domestic oil prices have nearly tripled since the conflict began.
Several transport groups have criticized the government's response to rising fuel costs, with another transport strike looming within the week.
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