President Ferdinand Marcos Jr. is set to announce a crucial decision on fuel excise taxes within this week, a move that could bring immediate relief to motorists grappling with high pump prices amid the ongoing conflict in the Middle East.

Presidential Communications Office Undersecretary and Palace press officer, Atty. Claire Castro said the President will convene the UPLIFT committee on 14 April, with the outcome expected to determine whether the government will suspend or reduce taxes on petroleum products.

Castro said the public can expect a definitive update after the meeting.

“After the meeting, we will provide you with the latest update, and we will already have an announcement,” Castro told reporters in vernacular. 

The highly anticipated decision follows the passage of Republic Act No. 12316, signed by Marcos on 25 March, which grants him emergency powers to suspend or reduce fuel excise taxes amid rising global oil prices.

If implemented, the tax suspension could cut pump prices by as much as P6 per liter for diesel and P10 per liter for gasoline—offering significant savings for consumers and transport operators.

A spike in fuel costs is seen as a major driver of rising prices of goods and services in the country.