The Philippines has removed tax exemptions for kerosene and LPG.
The benefit was linked to high oil prices and lapsed as crude oil prices fell.
The updated policy come into force immediately.
The measure follows a decline in global crude oil benchmarks.
Global LPG market sees a spotlight on Newport Propane in LP Gas Magazine.
DorianG obtained Russell Index exposure after simplywall.st issued an low-priced view.
Traders report tight supplies from Russian fuel shortages and wartime logistics.
The shortages are caused by reduced Russian fuel shipments and disrupted wartime transport routes.
Analysts note the market remains susceptible to further geopolitical shocks.