The House of Representatives has approved a bill on second reading granting President Marcos special powers to suspend or reduce excise taxes on fuel to cushion the impact of soaring oil prices due to the Middle East conflict. This measure is part of broader government efforts to protect Filipinos from potential increases in commodity prices. Meanwhile, the Department of Transportation is studying a possible fare hike for public transport.
On March 12, 2026, the House of Representatives approved House Bill No. 8418 on second reading, authorizing President Ferdinand Marcos Jr. to suspend or reduce excise taxes on petroleum products during national or global economic emergencies. House Majority Leader Sandro Marcos, one of the authors along with Speaker Faustino Dy III, stated that the bill provides a 'measured tool to cushion that shock, with clear triggers, clear limits and clear reporting' to protect Filipinos from sudden increases in fuel and basic commodity prices.
The triggers for suspension include when the Dubai crude oil price reaches or exceeds $80 per barrel for one month, or a declared state of national emergency causing extraordinary pump price increases, as certified by the Secretary of Energy. The authority is limited to six months unless extended by Congress, with automatic reinstatement of taxes afterward.
In the Senate, Sen. Pia Cayetano, chairperson of the committee on ways and means, said a similar measure is set for plenary approval 'in principle' and could be sponsored as early as next Monday. The Department of Finance supports it, though DOF Undersecretary Karlo Adriano warned that suspending the tax from May to December would cost the government P136 billion in revenues, including VAT losses.
Meanwhile, DOTr Secretary Giovanni Lopez said the LTFRB is studying a petition for a fare hike due to rising oil prices but needs to recompute the numbers. Transport group Piston plans a P2 provisional increase for jeepney fares from P13 to P15. To assist, the DSWD will provide P5,000 aid to drivers starting next week, and the DA will give fuel subsidies to farmers and fisherfolk.
The DTI also recommended a moratorium on toll fees for basic necessities transport and suspension of government shares in port fees to prevent commodity price hikes, according to Trade Secretary Cristina Roque.
