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Manila Bulletin devider Philippines devider National devider Makabayan bats for crucial ammendment to Price Act as fuel costs soar

Makabayan bats for crucial ammendment to Price Act as fuel costs soar

Published Mar 25, 2026 04:05 pm

At A Glance

  • What's the use of the prevailing Price Act if it doesn't cover fuel products? The Makabayan bloc sought to correct this on Wednesday, March 25 by filing House Bill (HB) No. 8765, which would amend the 34-year-old law and include gasoline and diesel as prime commodities.
From left to right: Gabriela Party-list Rep. Sarah Elago, Kabataan Party-list Rep. Renee Co, ACT Teachers Party-list Rep. Antonio Tinio (Ellson Quismorio / MANILA BULLETIN)
From left to right: Gabriela Party-list Rep. Sarah Elago, Kabataan Party-list Rep. Renee Co, ACT Teachers Party-list Rep. Antonio Tinio (Ellson Quismorio / MANILA BULLETIN)


What's the use of the prevailing Price Act if it doesn't cover fuel products?
The Makabayan bloc sought to correct this on Wednesday, March 25 by filing House Bill (HB) No. 8765, which would amend the 34-year-old law and include gasoline and diesel as prime commodities.
"HB No.8765 will strengthen the government’s power to impose price ceilings on gasoline and diesel during calamities, emergencies, and instances of widespread illegal price manipulation or artificial price increases," said militant solons Gabriela Party-list Rep. Sarah Elago, Kabataan Party-list Rep. Renee Co, ACT Teachers Party-list Rep. Antonio Tinio in a joint statement.
The measure was pursued even as Filipino consumers faced the third consecutive week of mammoth pump fuel price hikes as a result of the tension in the oil-producing Middle East.
"Petroleum prices directly drive transport fares, electricity rates, and the prices of food and other essentials. Yet under oil deregulation since 1998, price spikes have been left largely unchecked and monopoly oil firms have been allowed to dictate the people’s cost of living," the bloc said.
"Malinaw ang krisis sa presyo ng langis at hindi dapat pinababayaan ang kartel na maghari-harian (The fuel price crisis is clear, and the cartel must not be allowed to act like kings)," it added.
Republic Act (RA) No. 7581, or the Price Act of 1992 as amended by RA No. 10623, ensures stable prices for basic necessities and prime commodities in the Philippines. It prohibits hoarding, profiteering, and cartel activities, allowing for price ceilings or automatic price freezes during calamities and emergencies to protect consumers.
To justify their bill, the Makabayan solons said, "Kagyat na kailangan ang ganitong proteksyon para mapigil ang garapalang overpricing at mapahupa ang domino effect ng fuel hikes sa pamasahe, pagkain, at iba pang pangunahing bilihin."
(Such protection is urgently needed to curb blatant overpricing and to ease the domino effect of fuel hikes on fares, food, and other basic goods.)
The further claimed that the current oil price shock—intensified by escalating geopolitical conflict and supply disruptions—"has been exploited for market abuse and windfall profits, including staggering hikes and premature price increases even on existing stocks".
They conceded, however, that the measure was only an urgent relief and accountability tool, not a complete solution to the structural damage caused by the Downstream Oil Industry Deregulation Act.
"Congress must move with urgency to advance deeper reforms, including stronger regulation of the downstream oil industry, centralized oil procurement, Petron renationalization, and mandatory unbundling of oil prices," the authors reckoned.

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Price Act Makabayan Fuel price crisis
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