Malacañang said the government is studying the conditions for the possible reduction or suspension of excise taxes on fuel, as global oil prices remain volatile.

This follows earlier remarks by Ferdinand Marcos Jr., who emphasized that the proposal requires a thorough and “very complicated” assessment of several factors.

Palace Press Officer Claire Castro said the President may only exercise the power to suspend or reduce fuel excise taxes if the average Dubai crude oil price exceeds $80 per barrel for at least 30 consecutive days prior to the order.

She noted that while Dubai crude prices have recently breached $100 per barrel, the level has yet to be sustained for a full month.

Castro added that any action will depend on the recommendation of the Development Budget Coordination Committee (DBCC), in coordination with the Department of Energy, as provided under a House measure.

Finance Secretary Frederick Go earlier said the 30-day threshold has not yet been met, although the government is already preparing for possible intervention.

The Palace also clarified that excise taxes are imposed upon the entry of imported oil, and assured the public of swift action once conditions are met to help ease fuel prices.

Marcos, in a recent interview, said the government continues to closely monitor the situation and is ready to act when necessary.