Senate to prioritize emergency powers for Marcos amid oil supply crisis
Senate leaders announced that proposals to grant President Ferdinand Marcos Jr. emergency powers to address the oil supply crisis, triggered by Middle East tensions, will be prioritized before the Senate goes on break. The bills will be referred to relevant committees for urgent action.
The Philippine Senate, led by Senate President Vicente Sotto III, announced on March 9, 2026, that it will prioritize legislation granting President Ferdinand Marcos Jr. emergency powers to address the oil supply crisis triggered by escalating Middle East tensions, particularly the Israel-Iran conflict. This follows President Marcos' formal request on March 3, 2026, for authority to suspend excise taxes on petroleum products if crude oil prices exceed $80 per barrel, aiming to shield Filipino consumers from fuel price hikes. The Senate will refer the proposals to relevant committees including ways and means, finance, and energy, with potential expedited processing before the Senate's scheduled recess on March 21.
Key legislative actions include Senate Bill No. 1922 by Senator Joel Villanueva, which allows suspension or reduction of excise taxes on gasoline and diesel when Dubai crude prices hit $80 per barrel, and Senate Bill No. 1923 by Senator Bam Aquino, granting authority to suspend excise taxes during national or global emergencies. Several senators including Panfilo Lacson, Majority Leader Miguel Zubiri, Joel Villanueva, and Bam Aquino have voiced support for the emergency powers request, while Senator Francis Escudero advocates for permanent powers through amendments to the TRAIN Law to automatically adjust taxes during crises.
The oil supply crisis stems from escalating tensions in the Middle East, particularly the Israel-Iran conflict, which has pushed Dubai crude prices toward $80-$90 per barrel. The Philippines currently maintains approximately two months of oil reserves but is preparing for potential prolonged supply disruptions. The government has also considered additional measures including using a P3 billion contingency fund for subsidies, implementing fare hike halts for public transport, promoting work-from-home policies, and ensuring oil companies implement gradual price increases.
On March 9, 2026, Malacañang formally submitted its request to Congress for the emergency powers, with Senate President Sotto confirming the Senate's prioritization of the matter. The proposed powers would be temporary and retractable once oil prices stabilize, with Finance Secretary Frederick Go noting that measures would only activate for extended impacts rather than short-term price spikes. While the Makabayan bloc in Congress has expressed opposition, arguing that existing bills for permanent excise and VAT removal should suffice, legislative leaders aim for pre-recess approval under urgent conditions to provide relief to Filipino consumers facing rising fuel costs.
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