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