Camille Naredo

A price board shows over Php80 per liter of diesel at a gasoline station along EDSA, Mandaluyong City, on March 13, 2026.

A price board shows over Php80 per liter of diesel at a gasoline station along EDSA, Mandaluyong City, on March 13, 2026. Another fuel price hike is looming next week as world prices for a barrel of oil soar amid the US-Israel-Iran conflict in the Middle East.
Photo by Maria Tan, ABS-CBN News

Article (news)

OIL PRICE HIKE - PHP 80 per liter

Agatha Gregorio

ABS-CBN News

MANILA — The House of Representatives approved on third and final reading House Bill 8418 to authorize the president to suspend or reduce excise taxes on petroleum products during national or global economic emergencies.Two hundred and forty-eight members voted in the affirmative, three in the negative with no abstentions during plenary session on Monday.<div><a class="fr-green fr-strong" href="https://www.abs-cbn.com/news/business/2026/3/12/marcos-certifies-urgent-bill-allowing-fuel-tax-suspension-cuts-1708">READ: Marcos certifies urgent bill allowing fuel tax suspension, cuts during economic emergencies</a></div>Kabataan Party-list Representative Renee Co, Gabriela party-list Representative Sarah Elago, and ACT Teachers party-list Representative Antonio Tinio voted against the measure.Both Co and Elago called this a short-term solution at best, lamenting the deregulation of the oil industry. “Best case scenario, may pagbaba ng presyo ng petrolyo nang 6 to 10 kada litro. Pero ‘yun nga ay hindi pa band-aid na cino-cover ‘yung buong sugat, dahil ito ay shorter term fix than simply removing VAT and excise taxes through legislation na finile po bilang panukalang batas ng representasyong ito. But even that modest reduction is not guaranteed to reach consumers. The oil industry remains deeply deregulated with no unbundling of costs,” Co said. “Emergency powers cannot fix what deregulation broke,” Co added.Tinio said the lack of fuel cost unbundling impacts the way consumers are affected by excise tax reduction. “Dahil hindi naka-unbundle ang presyo ng langis at tinuturing na top secret ang breakdown ng margin ng oil companies, walang paraan ang mga consumer para malaman kung talaga bang nabawasan ng P6 per liter ang diesel at P10 per liter ang gasoline. Madaling sabihin na nakain na ng pagtaas ng base price ng langis ang pagbawas ng excise tax,” Tinio said.But for Diokno, there is a need to give immediate help to those affected by price hikes. “The soaring prices of oil have created a domino effect, driving up the cost of food, transportation, and basic goods. Kailangan na nating kumilos dahil nagkakandakuba na sa hirap ang taumbayan,” Diokno said.The lawmaker also lobbied for the passage of measures he called “broader solutions,” such as a House resolution to give free train rides during the crisis, and another urging the government to expand fuel subsidies to delivery riders and tricycle drivers.Like Diokno, ML party-list Representative Leila de Lima called for the implementation of long-term solutions, mentioning the Fuel Subsidy Program Act. &quot;Tulad ng mabilis na pag-apruba ng batas na ito para alisin o bawasan ang excise tax sa langis, nananawagan din tayo sa ating mga kapwa mambabatas na bilisan din ang pagsasabatas ng panukala nating Fuel Subsidy Program Act para gawing permanente na ang buwanang fuel subsidy para sa ating mga PUV drivers, agricultural workers at iba pang bulnerableng sektor,&quot; De Lima, who voted yes for the passage of the bill on excise tax, said. &quot;By institutionalizing this fuel subsidy, we are capacitating these sectors to improve their services, increase local food production which will help lower food prices, and achieve food security,&quot; De Lima added.In a statement, House Ways and Means Committee Chairperson Miro Quimbo called the passage of House Bill 8418 a victory &quot;for all ordinary Filipinos.&quot;<div> </div><div>OIL PRICE STABILIZATION ACT</div>On Monday, the lower chamber also approved on second reading a proposed measure to amend the Biofuels Act of 2006, which is House Bill 8469 or the Oil Price Stabilization Act.According to House Committee on Energy Chairperson Jose Alvarez, this allows the president to suspend mandatory use of locally-sourced biofuels for a period of not more than one year when the price for the mandated blended fuel is higher by at least five percent compared to pure gasoline or diesel. &quot;This measure does not abandon our commitment to indigenous renewable energy development. Rather it provides an immediate relief for our drivers, farmers and fishermen during periods of extreme global oil volatility, such as the one we are currently witnessing in the Middle East. We are assuring the Filipino people that we are listening to their pleas. We know that every peso saved at the gas station is a peso that stays in their pocket for food and education,” Alvarez said.Tinio was among lawmakers who voiced their concerns over the bill, citing its potential impact on local producers. “Mayroon talagang banta na maaapektuhan ang local producers– so both the landowners tsaka those who invest, as well as the workers, the farm workers. Kapagka ‘yung produkto nila wala nang preferential na treatment ay maaaring magkaroon ng displacement, ‘di po ba?” Tinio asked.In response, Alvarez said the suspension would only be for a “very short period of time.”President Ferdinand Marcos Jr. certified as urgent the proposed amendment to the Biofuels Act of 2006 given the impact of increasing fuel prices.

The House of Representatives approved on third and final reading House Bill 8418 to authorize the president to suspend or reduce excise taxes on petroleum products during national or global economic emergencies.

The House of Representatives approved on third and final reading House Bill 8418 to authorize the president to suspend or reduce excise taxes on petroleum products during national or global economic emergencies.

House OKs on final reading bill for emergency powers on fuel excise tax

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House OKs on final reading bill for emergency powers on fuel excise tax

Agatha Gregorio,

ABS-CBN News

Published Mar 16, 2026 06:31 PM PHT

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Updated Mar 16, 2026 08:11 PM PHT

Read More:

House of Representatives

excise tax

fuel

petroleum products

Ferdinand Marcos Jr.

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