The Bureau of Internal Revenue announced that excise tax rates on kerosene and liquefied petroleum gas returned to their original levels on July 8.
This reversal follows a Department of Energy certification indicating that the average Dubai crude price for June 1‑30 was $79.45 per barrel, falling below the $80‑per‑barrel threshold established by law.
Executive Order No. 114‑2026, issued on April 16, had temporarily suspended excise taxes on selected petroleum products for three months to cushion the impact of higher oil prices triggered by the Middle East conflict.
The order specifies that tax rates automatically revert to those prescribed in the National Internal Revenue Code once the one‑month average Dubai crude price remains below the threshold for a week, eliminating the need for a separate issuance.
Consequently, under Section 3(i) of the order, the excise tax rates on kerosene and LPG reverted to the rates set forth in Section 148 of the National Internal Revenue Code of 1997, as amended, effective July 8.
The adjustment aligns tax policy with current oil market conditions and restores anticipated revenue streams.
