Marcos Jr. signs oil excise tax suspension lawEffectivity date unclearMANILA, Philippines — President Marcos signed into law last night a bill granting him the power to suspend or reduce excise tax on petroleum products as part of the government’s initiatives to cushion the impact of soaring fuel prices. Any suspension or reduction would be effective for a period not exceeding three months, provided that the aggregate period of the suspension or reduction shall not exceed one calendar year. In an address delivered earlier yesterday, Marcos allayed concerns over the country’s oil supply, saying there would be a “flow of oil” even after the 45-day supply is consumed. The government came up with new systems to ensure that the country would have a steady oil supply, he added. For Senators JV Ejercito and Loren Legarda, President Marcos’ decision to declare a state of national energy emergency is a welcome move but is long overdue.

Source: Philippine Star March 25, 2026 16:15 UTC