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Fuel tax cut on petrol and diesel takes effect
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The German government's fuel discount took effect at midnight. Taxes on petrol and diesel drop by about 17 cents per litre for two months. It remains unclear how quickly pump prices will reflect the cut.
Public service vehicle operators in Kenya have raised fares by 50 per cent following a sharp increase in fuel prices. They also called for a nationwide strike starting Monday.
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Fuel prices will increase again on Tuesday, May 5, with diesel rising by P2.66 per liter and gasoline by P2.21 per liter, Energy Secretary Sharon Garin said. Kerosene prices will decline by P3.53 per liter.
In his first global interview as head of the IMF's Fiscal Affairs Department, Chilean economist Rodrigo Valdés said Chile's policies on fuel price surges due to the war in Iran align with IMF recommendations, akin to the UK's. He warned of global public debt exceeding 100% of GDP by 2029 and urged timely fiscal adjustments.
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Updated industry estimates project even larger diesel cuts of P24 to P26 per liter and gasoline P2.50 to P3.50 per liter starting April 21, up from earlier P17-P19 projections, as the global oil war premium continues to unwind—extending relief from the April 14 rollbacks amid the 2026 fuel crisis.
Surging fuel prices are grounding more fishers in the Philippines, reducing daily catches and threatening food security, witnesses said at a Senate hearing on April 8.
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Fuel prices in Metro Manila remained unchanged at elevated levels over the Easter weekend, with diesel holding at P133.19 per liter—above the national average—as Filipinos returned from Holy Week holidays.
South African fuel prices to rise sharply from Wednesday
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