State of national energy emergency declaredSenators eye lowering, suspending 12% fuel VATMANILA, Philippines — He’s still not calling the situation a crisis, but President Marcos declared yesterday a “state of national energy emergency” as fuel prices continue to soar and as supply nears depletion. It is the first time that a president exercised such authority to respond to oil supply disruptions under Republic Act 7638, which authorizes the President to declare a critically low ener­gy supply and implement energy allocation. Earlier, Sen. Bam Aquino pressed energy officials on additional interventions to lower pump prices, noting that the Senate had already fast tracked the enrolled bill suspending fuel excise taxes. Balisacan issued the warning after Sen. Loren Legarda asked him for his opinion on senators’ proposals to suspend or reduce not just the fuel excise tax, but also the VAT on fuel. He said reducing tax on fuel would result in lower inflation rate because of reduced costs in transportation of goods and on motorists’ travel.

Source: Philippine Star March 24, 2026 16:06 UTC