PRESIDENT Ferdinand “Bongbong” Marcos Jr. announced on Monday that he has exercised his emergency powers to remove the excise tax on Liquefied Petroleum Gas (LPG) and kerosene, a move aimed at alleviating the financial strain on Filipinos due to high fuel prices.
This decision comes shortly after the President signed into law Republic Act No. 12316 on March 25, granting him the authority to suspend or reduce excise tax rates on petroleum products during times of economic crisis.
The removal of the excise tax is expected to result in a notable price reduction for consumers. President Marcos Jr. stated that the measure would translate to a decrease of P3.36 per kilogram of LPG, amounting to a savings of nearly P37 for a standard 11-kilogram tank. For kerosene, the reduction is P5.65 per liter.
This initiative is part of the administration’s broader strategy to cushion the impact of volatile global oil prices on households and essential sectors.
While the excise tax on LPG and kerosene has been lifted, the President indicated that discussions regarding similar measures for diesel and gasoline are ongoing. He mentioned that these would be a key topic of discussion during the upcoming UPLIFT meeting scheduled for Tuesday, April 14. This suggests a continued effort by the government to explore all available options to stabilize fuel prices and provide much-needed relief to the Filipino public amidst persistent economic challenges.
