Jauhn Etienne Villaruel

Motorists line up at a gasoline station along Philcoa in Diliman, Quezon City on Friday, March 6, in a rush to refuel ahead of the expected fuel price increase next week. Long queues of cars and motorcycles formed as drivers tried to fill up before the anticipated hike in gasoline and diesel prices.  Maria Tan, ABS-CBN News

Article (news)

OIL PRICE HIKE

Katrina Domingo

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib" style="width:960px;display:block" width="960"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/177451229699720260306-oil-price-hike-refueling-MT13.jpg" style="width:960px" class="fr-fic fr-dib" width="960"/><span class="fr-inner" style="text-align:left">Motorists line up at a gasoline station along Philcoa in Diliman, Quezon City on Friday, March 6, in a rush to refuel ahead of the expected fuel price increase next week. Long queues of cars and motorcycles formed as drivers tried to fill up before the anticipated hike in gasoline and diesel prices.  Maria Tan, ABS-CBN News</span></span></span></div><div><br/></div><p>MANILA — The administration still needs to study calls to impose a price freeze on fuel products, Malacañang said on Thursday, as the Philippines continues to suffer from 4 consecutive weeks of steep hikes in pump prices.</p><div><a href="https://www.abs-cbn.com/news/nation/2026/3/24/manila-s-jeepney-drivers-struggle-as-middle-east-war-sends-diesel-cost-soaring-1401">Manila&#x27;s jeepney drivers struggle as Middle East war sends diesel cost soaring</a></div><p>Under Executive Order No. 110, the President and the Department of Energy (DOE) are authorized to takeover private oil companies, including the pricing of petroleum products, while the country is still under a state of national energy emergency due to supply chokepoints in the Gulf region.</p><p>“Dapat araling mabuti kasi may maaapektuhan din tayong oil companies na nakikipag-usap, nakikipag negosasyon sa ating gobyerno so titingnan po, babalansehin,” Communications Secretary Claire Castro told Palace reporters.</p><p>“Hindi po kasi maaaring kumilos tayo dito tapos may maaapektuhang sektor para lamang maging optics,” she said.</p><div><a href="https://www.abs-cbn.com/news/business/2026/3/25/makabayan-bloc-seeks-to-declare-fuel-a-prime-commodity-impose-price-ceilings-1303">Makabayan bloc seeks to declare fuel a prime commodity, impose price ceilings</a></div><p>“Kailangan po talaga balansehin dahil pag hindi ito binalanse, baka lalo tayong magkaroon ng problema.”</p><p>Calls for the government to implement policies to pull down prices of petroleum products have been growing despite moves to provide fuel subsidies and cash aid for the transport sector.</p><div><br/></div><div><strong>WHY 15 DAYS?</strong></div><div><br/></div><p>Earlier this week, Marcos Jr. signed Republic Act No. 12316, which authorizes the Chief Executive to suspend or cut oil excise taxes, but the law only takes affect 15 days after its publication on general circulation newspapers.</p><p>Malacañang pointed towards Congress when asked why the law’s effectivity date could not come sooner to stave off further increases in the petroleum products.</p><p>“Ayaw natin makipagtalo sa Kongreso. ‘Yan ang ginawa ng Kongreso, ‘yan ang nakikita nila na makabubuti para sa batas so sino tayo ngayon na magpapalit niyan,” Castro said when asked why the President did not shorten the number of days required for the law to take effect.</p><div><a href="https://www.abs-cbn.com/news/business/2026/3/25/marcos-jr-cuts-oil-excise-tax-to-ease-double-digit-spikes-in-ph-fuel-prices-1901">Marcos Jr. cuts oil excise tax to ease double-digit spikes in PH fuel prices</a></div><p>“Nasa wisdom po ito ng Kongreso at ito po ay ginagalang ng Pangulo,” she said.</p><p>The administration continues to work on other interventions while the law has yet to come into full force, the Palace official said.</p><p>“Hindi naman po tumitigil ang Pangulo sa pag-iisip ng solusyon at mga ayuda sa ating mga kababayan,” she said.</p><p>The administration has also yet to announce the rate by which it plans to cut oil taxes.</p><p>“Sa ngayon, nakausap po natin si Secretary Sharon Garin at ito ay under review sa ngayon dahil paiba-iba nga po ang presyo ng produkto ng petrolyo so under review po siya,” Castro said.</p><p>Several analysts earlier warned that the Philippines may lose hundreds of billions in taxes should the President suspend oil excise taxes in a month.</p><p>Under the law, oil excise tax may only be suspended when the average monthly price of the Dubai crude oil beaches $80.</p><p>The excise tax on oil may only be suspended up to 3 months, and will automatically return once the average monthly price of the Dubai crude oil falls below the $80 threshold.</p><div><br/></div><div><strong>OIL COMPANIES</strong></div><div> </div><p>Oil Industry players also backed calls to remove the value added tax on petroleum, even proposing a way for them to avoid passing on the VAT to consumers.</p><p>Department of Finance Undersecretary Karl Adriano said, &quot;What will probably happen is that those input VAT na naipit, ipapa-pass on nila yun dun sa presyo.&quot; </p><p>But Independent Philippine Petroleum Companies Association president Tanya Samillano said they can suspend VAT on petroleum at import.</p><p>&quot;Because what we want, what we were suggesting is we don&#x27;t remove it on the bottom, we remove it upon arrival of the cargo. Di na kami magbabayad ng VAT. And then it answers your request for immediate implementation on the pump prices.&quot;</p><p>&quot;Because once you don&#x27;t have the VAT, it&#x27;s not part of your cost anymore,&quot; Samillano added.</p><p>Philippine Institute of Petroleum Executive Director Rafael Capinpin also urged the executive to consider what happens to those inventory already in the market which already paid excise taxes. <strong>—With reports from RG Cruz, ABS-CBN News</strong></p><div><strong><br/></strong></div><div><strong>RELATED VIDEOS</strong></div><div><br/></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/LP9--MMyl1U?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/oXcNFVQ4Atc?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/Mcy21ebE3rA?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>The administration still needs to study calls to impose a price freeze on fuel products, Malacañang said on Thursday.</p>

The administration still needs to study calls to impose a price freeze on fuel products, Malacañang said on Thursday.

‘Balanced interests over optics’: Palace says fuel price freeze needs to be ‘further studied’

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‘Balanced interests over optics’: Palace says fuel price freeze needs to be ‘further studied’

Katrina Domingo,

ABS-CBN News

Published March 26, 2026 04:06 PM PHT

Read More:

state of national energy emergency

price freeze

Department of Energy

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