PBBM sets condition for fuel excise tax cut implementation

News | National Posted on 2026-03-11 01:08:24

NEW YORK CITY – President Ferdinand R. Marcos Jr. on Tuesday (New York time) said the government may implement a reduction in fuel excise taxes once global oil prices reach a certain level, as part of a proposal seeking emergency powers to address rising petroleum costs.

Speaking in an interview at The Pierre, A Taj Hotel, Marcos said he plans to certify the proposed measure as urgent once committee reports from both chambers of the Senate of the Philippines and the House of Representatives of the Philippines are finalized.

He explained that certifying the bill as urgent before the committee reports are completed would be premature, noting that the urgency certification would help speed up discussions during plenary debates in Congress.

When asked about the provision he wants included in the proposed legislation, Marcos said he intends to exercise emergency powers if the average price of Dubai crude oil reaches USD80 per barrel for at least one month.

“It’s very, very simple. What we ask of the legislators is very simple. It’s that when the price of oil – at least this is the original version – when the price of oil has breached USD80 per barrel on average for a month, then the emergency powers can be exercised,” Marcos said.

However, the President clarified that exceeding the threshold would not automatically result in an excise tax reduction. Instead, it would give the President the authority to implement the measure if deemed necessary.

Marcos also reassured the public that the Philippines currently has an adequate fuel supply, adding that additional shipments are already on the way.

“In terms of supply, we are in good shape and not only do we have inventory in the Philippines, we also are waiting some supplies coming in that are in transit,” he said.

He noted that the government is closely tracking fuel shipments, especially those passing through areas affected by geopolitical tensions, to ensure accurate projections of the country’s supply.

The President acknowledged that it remains uncertain how long global tensions may persist but said the government is already exploring alternative suppliers as a precaution.

“Naghahanap tayo ng iba’t ibang lugar na makakapagbigay ng supply sa atin (We are looking at other countries that can provide supply to us), including countries we normally do not buy oil from,” Marcos said, expressing hope that new agreements can be reached to secure additional fuel stocks for the country. 

NPO NEWS TEAM | PNA - PR

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