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Oil Tax Targeted in Philippine Presidential Race as Prices Surge

General Views Of Manila Economy Ahead Of APEC Summit

Photographer: SeongJoon Cho/Bloomberg

Some Philippine presidential aspirants are looking at either cutting or suspending taxes on oil, as fuel prices rise ahead of elections in May of next year. 

Manila Mayor Isko Moreno on Thursday said he plans to cut taxes on oil and power by as much as 50%. Senator Ping Lacson called on the government to suspend excise taxes on oil, while former Senator Ferdinand Marcos Jr. asked for the same after a meeting with transport groups.