Philippine President Ferdinand Marcos Jr. has announced the suspension of excise taxes on liquefied petroleum gas (LPG) and kerosene, a move he says will reduce the price of a standard LPG tank by roughly 37 pesos and cut kerosene costs by 5.65 pesos per litre. The decision comes amid ongoing Middle East conflict that has driven domestic fuel prices to historic highs, with gasoline recording its 13th consecutive week of increases and diesel its 15th. The government is also weighing further relief measures, including a possible suspension of the value-added tax on fuel products, though officials warn that suspending the excise tax alone could cost the state around 200 billion pesos in lost revenue.