The Philippines has temporarily suspended excise taxes on key cooking fuels as it contends with rising fuel costs stemming from the ongoing conflict in the Middle East. The move, announced by the presidential palace on Friday, applies to liquefied petroleum gas (LPG)—the country’s primary cooking fuel—and kerosene.

Under the executive order, excise duties on LPG and kerosene are fully suspended, except when LPG is used as a raw material for petrochemical production or for motive power, and except when kerosene is used as aviation fuel. The measure effectively reduces the price of LPG by approximately three pesos per kilogram, equivalent to about five US cents.

This policy adjustment follows threats from bus operators to launch a two-day nationwide transport strike next week. The operators want the government to allow fare increases, which are currently regulated by the state. Unlike some neighboring countries such as Indonesia, Malaysia, and Thailand, the Philippines does not impose price controls on fuels, leaving local transport firms vulnerable to market volatility.

President Ferdinand Marcos Jr. indicated the excise tax suspension is temporary and will automatically end after three months or once the 30-day average price of Dubai crude oil falls below $80 per barrel. As of September 11, the average crude price stood at $99.41 per barrel.

The Philippines, heavily reliant on energy imports, declared a national energy emergency in March. The government has expanded its portfolio of fuel suppliers to include countries like Russia in an effort to secure more stable inventories. Inflation and higher fuel costs, partly due to the war in the Middle East, contributed to slowing economic growth in the first half of the year, with gross domestic product expanding by just 2.6 percent, well below official projections.