Philippine Law to Halt Oil Tax Fails to Avert Transport Strike

Philippine public transport drivers began a two-day strike on Thursday, stranding hundreds of commuters, as soaring fuel prices led to losses.

The strike comes a day after President Ferdinand Marcos Jr. signed a law that authorizes him to suspend or reduce the excise tax on petroleum products as the war in Iran keeps fuel prices elevated.

Each public transport driver loses 1,500-1,600 pesos ($25-$27) a day as crude prices shot up by as much as 120% in the last two weeks, according to Mar Valbuena, who heads MANIBELA, which groups drivers and transport terminals across the country.

“Now our question ...