Jonathan Frederic De Santos

Progressive groups hold a protest on the second day of a transport strike at a gasoline station in Philcoa, Quezon City, calling for government action on rising fuel prices and policies affecting drivers. Maria Tan, ABS-CBN News

Article (news)

Harlene Delgado

ABS-CBN News

<div><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/17745897651731774589762686.jpeg" style="width:960px" class="fr-fic fr-dib" width="960"/>Progressive groups hold a protest on the second day of a transport strike at a gasoline station in Philcoa, Quezon City, calling for government action on rising fuel prices and policies affecting drivers. Maria Tan, ABS-CBN News </div>MANILA (UPDATED) — President Ferdinand Marcos Jr. said that while all options are on the table, the government is focused on immediate solutions to cushion the local impact of surging oil prices amid supply volatility in the global market due to the Middle East conflict.This was his response when asked about his thoughts on the calls to repeal the Oil Deregulation Act and remove Value-Added Tax (VAT) on fuel imports.“Well, as I said before, nothing is being discounted,&quot; he said in a chance interview after the PNPA “SILANG PAGLAOM” Class of 2026 commencement exercises in Silang, Cavite on Friday, March 27.“But what we are focused now is immediate [relief],” he said, adding proposals like repealing the Oil Deregulation Act will need to go through lengthy discussions.<div><a href="https://www.abs-cbn.com/news/business/2026/3/26/gov-t-secures-22-5-million-liters-of-diesel-amid-state-of-energy-emergency-2219">Gov’t secures 22.5 million liters of diesel amid state of energy emergency </a></div>Marcos Jr. also noted that amending the law would entail lengthy discussions.“I don&#x27;t know when it will come out so we are focused right now on the immediate —  what we can do immediately,” he said.“Kung ano ‘yung maaari natin paratingin kaagad na tulong sa taumbayan ay ‘yun ang aming ginagawa, ‘yun ang aming pinag-iisipan ngayon. But as I said, kahit lahat ng maaaring gawin eh tinitingnan namin, pinag-aaralan namin,” Marcos Jr. said.While assuring the country that there is enough crude supply until the end of June, the chief executive said talks are ongoing to secure more fuel.He said the Philippines&#x27; good relations with other countries has helped with the search for fuel sources. “They give us special consideration and concessions para dito kaya’t nandiyan ang supply natin,” Marcos Jr. added.Activists groups, including transportation sector organizations, have been calling for more government interventions in the deregulated oil industry, where the state relies on market forces and competition to keep prices stable.<div><a href="https://www.abs-cbn.com/news/business/2026/3/27/lpg-prices-also-set-to-rise-0145">LPG prices also set to rise </a></div>They have also been calling for the removal of VAT on oil products.A separate proposal to give Marcos Jr. authority to suspend the collection of excise taxes on fuel was signed into law this week.

President Ferdinand Marcos Jr. said that while all options are on the table, the government is focused on immediate solutions to cushion the local impact of surging oil prices amid supply volatility in the global market due to the Middle East conflict.

President Ferdinand Marcos Jr. said that while all options are on the table, the government is focused on immediate solutions to cushion the local impact of surging oil prices amid supply volatility in the global market due to the Middle East conflict.

Marcos: Legislation to lower fuel prices an option, but focus is on immediate relief

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Marcos: Legislation to lower fuel prices an option, but focus is on immediate relief

Harlene Delgado,

ABS-CBN News

Published March 27, 2026 01:38 PM PHT

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Updated March 27, 2026 02:39 PM PHT

Read More:

Oil Deregulation Law

Value-Added Tax

Fuel prices

Ferdinand Marcos Jr.

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