The Department of Finance (DOF) stated there is still no clear timeline for implementing the law that allows President Ferdinand Marcos Jr. to suspend or reduce excise taxes on fuel, as global oil prices continue to rise due to the conflict in the Middle East. Finance Undersecretary Rolando Ligon Jr. mentioned that the government is assessing various options to mitigate the impact of rising prices on consumers. A decision is expected after evaluating the current global market situation and its effects on the national economy.
Philippines: No Timeline for Fuel Tax Reduction
The Philippines' finance ministry has not set a timeline for fuel tax cuts despite rising prices due to Middle East conflict. The government is considering measures to protect consumers.
