Manila, March 25 -- President Ferdinand R. Marcos Jr. is expected to sign into law a measure granting him authority to suspend or reduce excise taxes on fuel, as the government moves to cushion the impact of rising oil prices.

"Siguro (Maybe) by the end of the day, I will be able to sign it already," Marcos said Wednesday.

The proposed legislation seeks to provide the President with emergency powers to adjust fuel excise taxes, seen as a key measure to mitigate the effects of surging pump prices driven by the ongoing crisis in the Middle East.

The government has also begun rolling out fuel subsidies to public transport operators, farmers, and fisherfolk to help offset higher fuel costs.

In addition, billions of pesos are being mobiliz...