By Justine Irish D. Tabile, Senior Reporter and Chloe Mari A. Hufana, Reporter
SUSPENDING EXCISE TAXES on diesel and gasoline would only provide limited relief compared to lifting levies on liquefied petroleum gas (LPG) and kerosene as the resulting decline in pump prices would be small, the Department of Finance said.
“The Development Budget Coordination Committee (DBCC) has determined that suspending excise taxes on diesel and gasoline would not likely provide meaningful relief, as any reduction in retail pump prices would be marginal and largely offset by prevailing market dynamics,” said Finance Secretary Frederick D. Go in a statement on Tuesday.
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