The Malacañang Palace on Thursday unveiled a sweeping package of relief measures to cushion the impact of surging global oil prices triggered by escalating tensions in the Middle East, including the signing of Republic Act 12316, granting the President authority to suspend or reduce excise taxes on petroleum products.

Palace Press Officer Claire Castro said the government is moving swiftly to protect both the economy and vulnerable sectors.

“Agarang tulong ng pamahalaan, inilatag ni Pangulong Ferdinand R. Marcos Jr. upang maibsan ang epekto ng kaguluhan sa Middle East,” Castro said.

The government rolled out multiple interventions, including fuel subsidies for public utility vehicle drivers, farmers, and fisherfolk; free rides and 50% fare discounts in MRT-3 and LRT-2; reduced airline terminal fees through the Civil Aviation Authority of the Philippines; and toll discounts for transport operators.

To address food security concerns, the administration expanded the P20-per-kilo rice program to over 600 distribution centers and ensured a sufficient supply of rice and fertilizer.

Castro said the government is also strictly monitoring the hoarding and overpricing.

She added that oil supply remains stable, with the Philippines sourcing alternative imports from countries such as the United States, Canada, and South America to ensure uninterrupted deliveries.