But the existing excise tax, imposed since January this year, will not be suspended or reduced, as called for by several quarters that blame the fuel tax for high inflation. At present, the government collects an excise tax of P2.50 per liter of diesel and P7 per liter of gasoline. By Jan. 1, 2019, the excise tax on diesel will increase to P4.50 per liter, and on gasoline to P9 per liter. We are considering the fact that the suspension of the excise tax increase would lead to maybe about P40 billion loss for the government. Aquino earlier filed Senate Bill 1798, seeking to suspend the collection of excise tax on fuel once inflation rate breaches the annual inflation target over a three-month period.

Source: Philippine Star October 14, 2018 16:00 UTC