Marcos set to sign law allowing excise tax freeze, but won't use powers yet

March 25, 2026 | 5:11pm

MANILA, Philippines — President Ferdinand Marcos Jr. is set to sign into law a measure granting him authority to suspend excise taxes on fuel within the day, as the government seeks to manage the impact of rising oil prices.

Speaking at a media briefing on Wednesday, March 25, Marcos said the bill, which he earlier certified as urgent, has been transmitted to Malacañang for approval.

"Nakipag-ugnayan din tayo sa Kongreso upang mabawasan at alisin na ang excise tax sa langis. 'Yan ang batas na hinihingi natin sa unang-una. Natapos na ang kanilang pag-aaral sa batas na 'yan at nasa amin na, at siguro by the end of today, I will be able to sign that into law already," he said.

(We coordinated with Congress to reduce and remove excise tax on fuel. That is the law we have been seeking from the start. They have finished deliberations and it is now with us, and by the end of today, I will be able to sign it into law.)

The government, however, has yet to decide when to exercise the powers to suspend fuel excise taxes. Erratic fuel prices have made it difficult to determine the best timing, Marcos said. 

Supply outlook

The president said the country has about 45 days of fuel supply.

"Although we cannot be assured right now of the supply, we can be sure that at least for 45 days we will be all right. I think that we can be fairly confident," Marcos said.

He added that the government is working to secure additional fuel sources from Japan, China, South Korea, India and Russia.

"We will already have a flow of oil, not just one delivery, not just two deliveries but a flow of petroleum and petroleum-related products," he said.

Emergency powers

While he assured the public of a steady oil supply, Marcos has declared a state of national energy emergency, granting the Department of Energy authority to take additional measures to address supply risks.

He said the declaration is intended to expand the government's options in responding to the crisis.

"I want to assure everyone that this should not mean that we should panic, it means that we are doing everything that we can to assess and alleviate the situation. It is a precautionary measure," he said.

Fuel prices have surged in the past three weeks due to the US-Israel war on Iran. After Tel Aviv and Washington bombed Iran, Tehran retaliated , going as far as closing the Strait or Hormuz—a vital route where 20% of global fuel supplies pass.  

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