Senator Erwin Tulfo said on Tuesday, March 3, that he will conduct a hearing on Friday to address the escalating crisis in the Middle East, particularly the impact on oil prices.

In a press conference, Tulfo, who chairs the Senate Committee on Foreign Relations, expressed support for a possible suspension of the fuel excise tax if global crude prices hit $80 per barrel.

Tulfo said the hearing will be conducted in aid of legislation following resolutions filed by several senators, including Senators Bam Aquino, Kiko Pangilinan, and Risa Hontiveros, as well as himself. He said the panel will examine measures to cushion the effects of rising fuel prices on consumers and ensure government preparedness should the conflict drag on.

He said invitations will be sent to key agencies, including the Department of Energy (DOE), Department of Migrant Workers (DMW), Department of Foreign Affairs (DFA), Department of Transportation (DOTr), Department of Agriculture (DA), and Department of Trade and Industry (DTI).

He added that the Senate will ask agencies what contingency plans are in place if the crisis worsens, including scenarios where the number of Filipinos seeking repatriation increases or where fuel prices continue to surge.

Tulfo cited concerns over the closure of the Strait of Hormuz, a key global oil passageway, saying that 20 percent of the world’s oil supply passes through it. He warned that prolonged disruption could lead to supply shortages and sharp increases in petroleum prices, which would eventually affect transport fares and the cost of basic goods.

“As a matter of fact, we had I think today P1-plus increase already and expect more to come,” he said, adding that rising fuel costs would likely result in higher prices for food and other commodities due to increased transportation expenses.

In response to proposals to ease the burden on consumers, Tulfo said he supports President Ferdinand Marcos Jr.’s reported position to seek congressional authorization to suspend the excise tax on fuel once global oil prices reach $80 per barrel.

He also stated that he would back amendments to Section 148 to allow for the automatic suspension of the excise tax when prices hit the threshold.

He described the tax as a significant component of pump prices and said its temporary removal would have a “big impact.”

“Malaki po dahil malaki po ang mababawas nito sa presyo po ng produkto po ng petrolyo sa mga pumping stations,” he said, though he noted he did not have specific computations.

Tulfo acknowledged that the authority to implement such a suspension lies with the executive branch but said he believes his colleagues in the Senate would support the move if proposed.

"Kasi para hindi masyado mabigatan yung ating mga kababayan, sino bang mambabatas na hindi po susuporta dyan? Remember, we're representatives of the people. Baka magalit po yung mga tao na we represent? It's common sense (So that our fellow citizens won’t be too heavily burdened, which lawmaker would not support that? Remember, we are representatives of the people. The people we represent might get angry. It’s common sense)," he said.

He emphasized that any suspension would be temporary and not indefinite, stressing the need to balance relief measures with fiscal responsibility. He noted that excise taxes are a major source of government revenue and that removing them prematurely could create funding gaps in the national budget, potentially leading to more borrowing..

On fuel subsidies, Tulfo said P2.5 billion has reportedly been prepared to support public utility vehicle (PUV) drivers. However, he questioned whether this would be sufficient if the conflict persists for weeks or months.

“I know it will not be enough kasi what if this war will drag on for weeks and weeks?” he said, pointing out that beyond subsidies and tax relief, supply stability remains a critical concern.

Tulfo said the purpose of subsidies is to help control transport fares and prevent sharp increases in food prices by offsetting higher fuel costs in the supply chain. He added that the timing of subsidy releases would be up to the executive branch, which he said is studying the situation carefully.

Tulfo said lawmakers in the hearing will also ask the DOE about alternative oil sources, including potential supplies from neighboring countries such as Malaysia and Indonesia. He said some smaller oil players already source fuel from these countries.