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Emergency powers need rules
malaya Business Insight
|March 09, 2026
THE war does not have to reach Manila to raise prices in a Filipino kitchen. Oil is the first messenger. Fertilizer, freight, and food follow.
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As the Middle East conflict threatens another oil shock, Malacañang's search for emergency powers can be justified only if Congress writes strict guardrails that deliver quick relief without turning crisis into a shortcut for discretion.
President Ferdinand Marcos Jr. is weighing the authority to cut excise taxes on petroleum products if Dubai crude hits $80 per barrel. Finance Secretary Frederick Go has framed it as a precautionary tool, not an automatic switch.
The government also cites a 50 to 60-day fuel buffer and talks with oil companies on staggered adjustments. These are signals of preparedness. They are not yet a policy design.
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