(March 26): Philippine public transport drivers began a two-day strike on Thursday, stranding hundreds of commuters, as soaring fuel prices led to losses. The strike comes a day after President Ferdinand Marcos Jr signed a law that authorises him to suspend or reduce the excise tax on petroleum products as the war in Iran keeps fuel prices elevated. The law that Marcos signed doesn’t equate to an actual suspension in oil taxes, and so “the strike continues. Marcos sought the authority earlier this month as the Middle East conflict caused prices of domestic fuel products to surge. Ahead of the transport strike, the US Embassy in Manila advised its citizens to avoid areas affected by the protests, warning them of significant disruptions to public transport.

Source: The Edge Markets March 26, 2026 08:28 UTC