Fuel tax relief considered amid oil surgeFrom AB Capital's The Opening Bell: Three MovesEventThe House approved a bill authorizing President Marcos to suspend or reduce fuel excise taxes during emergencies if Dubai crude averages at least US$80/bbl. While temporary tax relief may moderate pump prices, it also introduces fiscal trade-offs given the role of fuel taxes in government revenues. However, prolonged suspension may widen the fiscal deficit, particularly if revenue losses approach estimates exceeding P100 billion (i.e. we estimate that fiscal deficit to GDP would widen by 0.32pp for every P100 billion revenue loss, which means 2026E deficit to GDP could reach 5.7%). Even with tax relief, sustained oil volatility may compress margins.

Source: Philippine Star March 17, 2026 08:29 UTC