PSA Intelligence | RiskBPO Reports

Excise Tax Suspended Anew for LPG, Kerosene; Excise Tax Suspension for Other Fuel Products Unlikely

With global oil prices spiking past $80 a barrel, EO 125 temporarily halts excise taxes on household staples like LPG and kerosene. But don't count on cheap gasoline just yet: top financial institutions are urging the government to limit tax cuts and push for targeted transport subsidies.

Politics and Policy State of the Economy

On September 25, 2026, President Ferdinand Marcos Jr. issued Executive Order (EO) No. 125, temporarily suspending excise taxes on liquefied petroleum gas (LPG) and kerosene products, with certain exemptions. The Development Budget Coordination Committee (DBCC) recommended the suspension of excise taxes on LPG and kerosene, following the Department of Energy’s (DOE) certification dated September 11 that the average of Dubai crude oil prices over a 30-day period has exceeded USD 80 (PHP 4,998.64) per barrel, reaching USD 99.41 (PHP 6,211.44). PSA Intelligence notes the excise taxes on both LPG and kerosene were previously suspended on April 17, 2026, with the suspension lifted by July 8 when Dubai crude oil prices fell below the USD 80 (PHP 4,998.64) per barrel threshold.

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