MANILA, Philippines — President Ferdinand Marcos Jr. on Wednesday said exercising the emergency power to suspend or reduce tax on petroleum products depends on the trends on oil prices, admitting that it is a "very complicated calculation." Marcos issued the statement after the Senate approved on third and final reading, the measure granting him emergency powers to suspend or reduce the excise taxes on petroleum products to temper the impact of the surging fuel prices. "That’s a very complicated calculation. We will see. Depends on the trends. We have to watch the trends on oil prices. We just have to look. It's very hard to say because it's all speculation. We don't know how long this will last for," Marcos said. "We don't know what the effects are. We don't know what will happen in the Strait of Hormuz. So, you know, right now, we are just adjusting to the situation. And when the situation calls for it, then we will see when to exercise that power and by how much," he added.