OIL PRICE WATCH as of March 27, 2026

MANILA, Philippines — President Ferdinand Marcos Jr. may decide by April 12 or 13 whether to suspend or reduce the excise tax on petroleum products, a move aimed at easing the impact of rising oil prices driven by the Middle East crisis, the Department of Finance (DOF) said Thursday. Business groups have welcomed the new law granting Marcos the authority to adjust excise taxes, calling it a “much-needed” measure to help cushion the effects of the oil price surge. The spike in oil costs comes as Iran allowed 10 oil tankers to pass through the strategic Strait of Hormuz as […]... Keep on reading: OIL PRICE WATCH as of March 27, 2026

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