MANILA — Malacañang said the government is reviewing the conditions for the proposed reduction or suspension of excise taxes on fuel products.

The statement followed President Ferdinand R. Marcos Jr.’s remarks on Wednesday, noting that implementing the measure requires a “very complicated calculation” and careful assessment of multiple factors.

Palace Press Officer Claire Castro explained that under the approved bill, the President can only act “upon the recommendation of the Development Budget Coordination Committee (DBCC), in coordination with the Secretary of Energy.”

“Nasabi ng Pangulo iyan dahil ayon sa naaprubahan na bill, ang Pangulo ay makakakilos at makakapagdesisyon lamang ayon sa recommendation ng DBCC,” Castro said.

(He said that because under the approved bill, the President can only act and decide based on the recommendation of the DBCC.)

The proposed measure allows the President to suspend or reduce excise taxes on fuel if the average Dubai crude oil price exceeds USD80 per barrel for a full month or 30 days preceding the order. Castro noted that although Dubai crude has surpassed USD100 per barrel, it has not yet sustained that level for a full month.

“Ayon nga kay DOF (Secretary Frederick) Go, wala pang 30 days sa ngayon. Pero, ngayon pa lamang ay inaaral na ang kondisyon sa pag-reduce or pag-suspend the excise tax on fuel,” she said.

(According to DOF Secretary Go, it has not yet reached 30 days. However, the conditions for reducing or suspending excise tax on fuel are being studied as early as now.)

Castro also clarified that excise taxes only apply to imported oil, saying, “Kung walang maaangkat, wala tayong mapag-uusapang excise tax. Pero kapag naisabatas naman po yan, asahan ang mabilis na aksyon para maibaba ang presyo ng fuel.”

(If there are no imports, then there is no excise tax to discuss. But once this measure becomes law, you can expect swift action to bring down fuel prices.)

Earlier, Marcos assured the public that the government is monitoring the situation and is ready to act if conditions justify intervention.