NEW YORK CITY — President Ferdinand Marcos Jr. will formally request emergency powers from Congress on Monday, March 9, 2026, to temporarily reduce excise taxes on petroleum products. The move is a response to the skyrocketing cost of oil caused by the escalating war in the Middle East.
Speaking from New York, Palace Press Officer Claire Castro confirmed that the Department of Energy (DOE) will submit the formal request to the Philippine Congress today.
- The Goal: To give the President the authority to lower excise taxes on fuel, providing immediate relief at the pump for consumers.
- The Condition: Marcos had previously stated he would seek these powers if global oil prices exceeded $80 per barrel. With current prices now surpassing $100 per barrel, the trigger has been reached.
- Temporary Nature: The administration clarified that any reduction would be temporary and would require congressional approval to be enacted.
In addition to the tax cut, the President is pushing for other legislative changes to lower fuel costs:
- Biofuels Act Amendment: Marcos is seeking to amend the Biofuels Act of 2006 to allow for the use of cheaper bioethanol in fuel blends.
- Public Warning: The President advised Filipinos to brace for a massive price hike this week. Internal projections show:
- Gasoline: Up by ₱7.48 per liter.
- Diesel: Up by ₱17.28 per liter.
- Kerosene: Up by ₱32.35 per liter.
The request comes as the Middle East conflict enters a more dangerous phase, following military strikes that have crippled energy infrastructure and disrupted shipping in the Gulf region. The President is currently in New York to call for Middle East peace at the United Nations, while his cabinet coordinates domestic economic responses to the crisis.