Oil
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3 reports
DOE: New law needed to remove VAT on fuel products
Ruth Abbey Gita-Carlos, Philippine News Agency, April 10, 2026
Fuel Excise Tax Law Signed, But Economists Skeptical of its Overall Impact on the Filipino Public
Economists believe suspending fuel excise taxes would not significantly reduce fuel prices and may hurt government revenue for targeted subsidies.
Shipment, Travel Disruptions Continue Following Outbreak of US-Iran Conflict; Oil Prices Expected to Increase in Following Weeks
Joint US-Israel strikes on Iran have killed hundreds, including senior leaders, triggering regional retaliation. The conflict has surged oil prices toward USD 120 per barrel and disrupted global shipping. The Philippines faces rising fuel costs and risks to over one million OFWs.