Marcos awaits report on power to cut oil excise tax before certifying it urgent

President Ferdinand "Bongbong" Marcos Jr. will wait for the committee report on the proposed measures seeking to give him emergency powers to reduce excise tax on oil products amid the ongoing conflict in the Middle East before certifying it as urgent.

In a report on Unang Balita Tuesday, GMA Integrated News' Joseph Morong said Palace Press Officer Undersecretary Claire Castro made the announcement during an interview with reporters in New York.

Castro earlier said Marcos will send a formal request to Congress to grant him authority to reduce the excise tax on oil products once the price of Dubai crude exceeds $80 per barrel. 

Senate President Vicente "Tito" Sotto III said Monday that they have been coordinating with the office of Executive Secretary Ralph Recto regarding the matter. 

Energy Secretary Sharon Garin has expressed support for the measure, saying a two-month suspension could lower diesel prices by as much as P6 per liter.

There are at least five pending bills seeking to allow Marcos to slash fuel excise taxes during emergency situations.

In a separate interview, House ways and means committee chairperson Miro Quimbo (Marikina City) said the proposed bills empowering the President to suspend excise taxes will be deliberated and could be approved as early as Wednesday, March 11.

Pres. Marcos awaiting Congress’ committee report on the grant of emergency powers to reduce excise tax on petroleum products before certifying bill as urgent- Press Officer Usec. Claire Castro @gmanews @24OrasGMA pic.twitter.com/YzU0qC3yFH

— Joseph Morong ???????? (@Joseph_Morong) March 9, 2026

—AOL, GMA Integrated News