A legislative proposal already on file at the House of Representatives could serve as the vehicle for President Ferdinand “Bongbong” Marcos Jr.’s plan to secure emergency authority over fuel taxation, as the ongoing Middle East conflict continues to put pressure on global oil prices.
Marikina City 2nd District Representative Miro Quimbo, who chairs the House ways and means committee, has introduced House Bill 8257, which would amend Section 148 of the 1997 National Internal Revenue Code. Under the measure, the president — acting on the finance secretary’s recommendation — could suspend or lower the excise tax on petroleum products if either of two conditions is met: Dubai crude oil has averaged at or above $80 per barrel over at least three consecutive months before the order is issued, or a declared state of national emergency or calamity has driven extraordinary spikes in domestic pump prices, as certified by the energy secretary.
It is against this backdrop that Marcos is set to transmit a formal request to Congress seeking emergency powers to reduce excise taxes on oil products, according to Unang Balita reporter Joseph Morong in a Monday report for GMA Integrated News. The Palace had earlier signaled the president’s intention to certify as urgent new proposed measures granting him that authority once Dubai crude crosses the $80-per-barrel threshold.
Senate President Vicente “Tito” Sotto III, when asked to weigh in, said he has not yet reviewed the pronouncement from the executive branch.
The move comes as the prolonged conflict in the Middle East raises concerns over sustained volatility in global energy markets, with Philippine lawmakers now weighing how much latitude the chief executive should be given to act on fuel costs without waiting for the full legislative process.
