While President Marcos gave an assurance that the Philippines has an ample supply of oil amid the Middle East conflict, he bared plans to ask Congress to grant him the authority to reduce excise tax on petroleum products should prices exceed $80 per barrel.
Marcos made the statement in a press conference at Malacañang on Tuesday, March 3, following a meeting with Cabinet members on the situation of Filipinos in the middle of the ongoing conflict in the Middle East, and its impacts on the country.
READ: https://mb.com.ph/2026/03/03/marcos-to-seek-emergency-powers-to-reduce-excise-taxes-on-petroleum-products-if-prices-exceed-80-per-barrel
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