Manila, Philippines – The House of Representatives has moved closer to granting President Ferdinand Marcos Jr. Special powers to mitigate the impact of soaring fuel prices on Filipino consumers. Lawmakers approved on second reading House Bill (HB) No. 8418, which would authorize the President to suspend or reduce excise taxes on fuel during periods of significant price increases. The move comes as concerns grow over the economic strain caused by rising costs of transportation, food and other essential goods.
The bill aims to provide the government with a responsive tool to address global disruptions that rapidly drive up fuel prices. According to House Majority Leader Sandro Marcos, the legislation establishes “clear triggers, clear limits and clear reporting” to ensure the President’s authority is used responsibly. “This bill gives the President a measured tool to cushion that shock, with clear triggers, clear limits and clear reporting when the prices of fuel and basic commodities receive too high,” he stated. The legislation is intended to protect Filipinos from the escalating cost of basic necessities.
Senate Considers Similar Measure
The Senate is also considering a similar proposal. Senator Pia Cayetano, chairperson of the Senate committee on ways and means, announced on Wednesday, March 11, 2026, that her committee approved “in principle” proposals granting President Marcos emergency powers regarding fuel excise taxes. Cayetano indicated she aims to sponsor a consolidated bill for plenary approval as early as next Monday. She noted that ten bills are currently under consideration relating to the suspension or reduction of fuel taxes, along with one Senate resolution examining the impact of global oil prices.
However, Cayetano also pointed out that, under the Philippine Constitution, measures related to taxation must originate from the House of Representatives. The Senate is therefore awaiting the House’s final version of the bill before proceeding with its own deliberations.
How the Bill Would Work
HB 8418 seeks to amend Section 148 of the National Internal Revenue Code of 1997, allowing the President to temporarily suspend or reduce excise taxes on petroleum products when specific conditions are met. The bill is designed to allow for a swift response to crises without requiring lengthy legislative processes. Lawmakers emphasized that What we have is part of a broader effort to prepare for future global disruptions, including potential conflicts that could impact oil supply and drive up domestic prices. The House approved the bill on second reading on Wednesday, March 11, 2026, according to The Philippine Star.
The approval in the House follows reports of diesel shortages at some gasoline stations across the country, as noted in a photograph accompanying The Philippine Star’s report. The situation highlights the urgency of addressing fuel price volatility and ensuring a stable supply for consumers.
Palace Support and Next Steps
The Palace has indicated its support for the measure, with plans to certify the fuel excise tax cut bill as urgent. This certification would expedite the legislative process. The Senate panel’s approval “in principle” suggests a growing consensus in both chambers of Congress regarding the necessitate to provide the President with additional tools to manage the economic impact of rising fuel costs.
The next step for HB 8418 is its third and final reading in the House of Representatives. Once approved, it will be transmitted to the Senate for consideration. The Senate will then need to pass its own version of the bill before it can be reconciled and sent to President Marcos for his signature.
What comes next will depend on the speed with which both chambers can finalize and approve the legislation. The ongoing volatility in global oil markets underscores the importance of a timely response to protect Filipino families and businesses from further economic hardship.
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