Krisis sa Langis! Marcos Pushes Emergency Powers to Fight Skyrocketing Fuel Prices
President Ferdinand Marcos Jr. has announced he will certify as urgent a bill granting him emergency powers to combat soaring petroleum prices — a move that could pave the way for temporary excise tax cuts on fuel if global oil prices remain elevated.
Speaking after his address at the UN General Assembly Special Plenary Session in New York, Marcos explained the mechanism behind the proposed law. Under the original version of the bill, emergency powers would kick in once the average price of crude oil breaches $80 per barrel for a full month. Even then, he stressed, it wouldn't trigger an automatic reduction — but would give the government the authority to act.
The urgency is real. Last week's fuel price hikes were brutal — gasoline jumped by as much as P10.20 per liter, diesel by P24.25, and kerosene by a staggering P38.50 per liter. The ongoing Middle East crisis has been the main driver behind the supply squeeze and price spikes that have squeezed Filipino consumers.
Malacañang is currently waiting for committee reports from both the Senate and the House of Representatives before moving forward. Marcos acknowledged the biggest challenge: nobody knows how long the price surge will last, whether it's temporary or a new normal.
"The real problem here that everybody is having to deal with is we don't know how long it's going to last," the President said. For millions of Filipinos feeling the pinch at the pump, the answer can't come soon enough.
Source: The Manila Times
