PBBM to rule on fuel excise tax after Tuesday DBCC meeting
President Marcos Jr. is expected to announce his decision on cutting or suspending fuel excise taxes as early as Tuesday, April 7, amid soaring prices.
President Ferdinand "Bongbong" Marcos Jr. is expected to make a decision on suspending or reducing fuel excise taxes following a Development Budget Coordination Committee (DBCC) meeting scheduled for the week of April 12-13, 2026. This timeline comes after Republic Act 12316, which Marcos signed on March 25, 2026, granting the President emergency powers to suspend or reduce fuel excise taxes for up to three months. The law takes effect around April 12-13, 2026, and allows the President to act when the average Dubai crude oil price exceeds $80 per barrel for one month, upon DBCC recommendation in coordination with the Department of Energy.
The DBCC, chaired by the Department of Budget and Management and including the Department of Finance, National Economic and Development Authority, and Bangko Sentral ng Pilipinas, has held initial meetings and plans a final session after Holy Week to finalize recommendations for the President. Finance Undersecretary Karlo Fermin Adriano stated that a Friday meeting would lead to a proposal by next week, aligning with the law's April 12-13 effectivity for potential executive order issuance.
Current conditions have met the oil price threshold, with Brent crude at $102 per barrel and Dubai crude qualifying the trigger. Officials have warned of potential diesel price spikes to P162.50 per liter (a 176% increase) in severe scenarios, risking double-digit inflation. Senator Bam Aquino has urged swift action given the President's urgent certification of the bill.
The decision comes amid rising global oil prices that threaten to significantly impact Philippine consumers and the economy. The DBCC's recommendation will be crucial in determining whether the President exercises his emergency powers to provide relief through tax suspension or reduction. No specific Tuesday DBCC meeting in April 2026 has been confirmed in recent reports, with the focus instead on the post-Holy Week deliberations leading to the April 12-13 timeline for potential executive action.
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