Senator Loren Legarda on Monday filed a bill that would grant the President temporary emergency powers to address rising fuel prices and stabilize supply amid global tensions in the Middle East.

Senate Bill No. 2020, known as the “Bayanihan 3” measure, seeks to authorize targeted and time-bound interventions to manage petroleum costs and reduce the economic impact on transportation, food production, and basic goods.

Legarda cited escalating geopolitical conflicts in West Asia and the Middle East as a major driver of international fuel price hikes, which have also affected domestic markets.

“The dawn of 2026 has been defined by a sharp escalation of geopolitical hostilities. These localized conflicts have transcended regional borders, transforming into a global security threat,” Legarda said in the bill’s explanatory note.

The legislation would allow the government to temporarily intervene in the oil sector through price stabilization mechanisms, supply management, and allocation of fuel during the emergency period.

It also provides for fiscal relief measures, including the suspension or reduction of excise taxes and possible zero-rating of value-added tax on petroleum products, aiming to immediately ease pump prices.

The bill further proposes subsidies and financial support for transport, agriculture, and fisheries sectors, alongside demand-side measures such as energy conservation and accelerated adoption of alternative energy sources.

Legarda said the measure formalizes a whole-of-government response through an expanded UPLIFT (Unified Package for Livelihoods, Industry, Food, and Transport) framework to ensure energy security, food stability, and continuity of essential services.

She emphasized that the emergency powers granted under the bill would be limited in scope and duration, with safeguards on transparency and reporting to maintain accountability.