BBM Vlog on Feb. 1, 2026. Screen grabbed from Pres. Bongbong Marcos Jr’s video/Facebook.
President Ferdinand Marcos Jr. is expected to decide as early as April 7 on whether to reduce or suspend excise taxes on petroleum products to ease rising fuel prices.
Palace press officer Claire Castro said the Development Budget Coordination Committee (DBCC) would meet to finalize its recommendation for the president’s approval.
She said a decision could be made soon after the meeting if the proposal is deemed beneficial to both the public and the economy.
Castro noted that the administration is weighing the need to lower fuel costs against the impact on government revenues. She emphasized that taxes remain a primary source of funding for public programs, requiring a careful balance.
The Department of Finance (DOF) earlier warned that suspending fuel excise taxes from May to December could lead to revenue losses of at least Php 121 billion.
Under Republic Act No. 12316, the president may exercise the authority to adjust fuel taxes starting April 12, once the law takes effect.
Estimates showed that removing excise taxes could reduce diesel prices by about P6 per liter and gasoline and other petroleum products by as much as P10 per liter, though the adjustment will apply only to new fuel imports.
The law allows the temporary reduction or suspension of excise taxes for up to three months at a time, with a maximum cumulative period of one year, and will remain in effect until Dec. 31, 2028.
