Philippines suspends fuel taxes

The tax relief is intended to temper the impact of soaring fuel costs on everyday household expenses.

Marcos stated that the adjustment was necessary given the current geopolitical climate and its effect on international supply chains.

The government is also investigating potential sabotage following the seizure of cyanide on foreign boats in a disputed South China Sea atoll.

These measures are part of a broader strategy to ensure national economic security and protect vulnerable citizens from the ongoing global energy shock.