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Senate Proposes Fuel Tax Cuts Amid Middle East Crisis

3/17/2026

Summary

Story summary

Senator Pia Cayetano presented measures in the Philippine Senate to address fuel prices amid Middle East crisis.
Senate Bill No. 1982 would let the president suspend or reduce excise taxes on petroleum when prices exceed $80 a barrel, risking PHP136 billion.
Senate Bill No. 1965 would permit importation of biofuel components to ensure supply.
President Ferdinand Marcos Jr. announced cash and fuel subsidies for affected citizens, including tricycle drivers and farmers.

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Story summary

Senator Pia Cayetano presented measures in the Philippine Senate to address fuel prices amid Middle East crisis.
Senate Bill No. 1982 would let the president suspend or reduce excise taxes on petroleum when prices exceed $80 a barrel, risking PHP136 billion.
Senate Bill No. 1965 would permit importation of biofuel components to ensure supply.
President Ferdinand Marcos Jr. announced cash and fuel subsidies for affected citizens, including tricycle drivers and farmers.