Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan’s call for an investigation on the alleged existence of an oil cartel is gaining traction in the House of Representatives.

Mamamayang Liberal (ML) Party-list Rep. Leila de Lima, senior deputy minority leader; and Marikina City 2nd district Rep. Miro Quimbo, presiding officer of the Legislative Energy Action Development (LEAD) Council have both echoed Balisacan's pitch.

“We support Sec. Balisacan’s statement that the issue on possible overpricing and profiteering amid this oil price shock should be investigated by the Philippine Competition Commission (PCC) and the Energy Regulatory Commission (ERC). Hindi pwedeng tatanggapin lang natin ang ganitong nakakalula at nakapagdududang pagtaas sa presyo ng langis (We cannot simply accept this kind of shocking and questionable increase in oil prices),” De Lima said in a statement Saturday, April 11.

“It would be a grave injustice if, while our countrymen are already suffering, some continue to take advantage of this crisis,” she added.

It was during the LEAD Council's maiden hearing last April 8 when Balisacan--who was among the many executive branch officials who participated in the proceedings--just stopped short of saying that the oil industry was being controlled by a cartel.

"Mr. Chair, I'm not saying that there is a cartel. But I think that our regulatory agencies, in particular PCC (Philippine Competition Commission) and ERC (Energy Regulatory Commission) should work together to investigate," the DEPDev chief told council.

For De Lima, the current fuel price crisis should serve an a eye-opener to the failings of the Oil Deregulation Law of 1998.

"What’s happening now with this crisis, we are realizing that our current oil deregulation policy is not an ideal policy. That’s why there’s a need to review the Oil Deregulation Law and conduct an urgent investigation into the possible market abuse in determining the fuel prices,” said the former senator.

Quimbo said local oil companies will be asked to explain why their prices move almost exactly the same way, even in a deregulated market.

“Oo. Yes, yes, definitely. Tatanungin natin sila dyan (We will ask them about that),” he said when asked in a radio interview if oil companies would be invited to the hearings.

He says oil firm representatives were expected to join the LEAD Council's April 13 hearing

Although Quimbo manifested during the first energy crisis council hearing that there were telltale signs of a cartel, he shared afterward that he wasn't quite ready to say that there indeed was.

“Hindi pa ako handang sabihin ‘yan, pero ang sinasabi natin, ‘yung resulta tila ganun. Lahat ng indikasyon at lahat ng pagkilos at ‘yung kawalan natin ng resulta sa lahat ng imbestigasyon, nagpapakita na tila meron,” Quimbo said.

(I’m not ready to say that yet, but what we’re pointing out is that the result seems to be like that. All the indications, all the actions, and our lack of results in all the investigations show that there seems to be something.)

Quimbo said the government must ensure that all its competition safeguards were working, particularly oversight by the Department of Energy (DOE), the ERC, and the PCC.

He warned that without active enforcement, public suspicion of collusion will persist.

“So hangga’t hindi po natin nabubuhay ang oversight ng kompetisyon, ay patuloy tayong mag-iisip na talagang may sabwatan or may cartel-like behavior sa ating petroleum industry. At nakikita naman po natin na bakit pare-pareho at sabay-sabay po sila nagtaas ng kanilang mga presyo,” explained the Marikina lawmaker.

(So as long as we don’t activate competition oversight, we will continue to think that there really is collusion or cartel-like behavior in our petroleum industry. And we can clearly see why they all raised their prices at the same time and in the same way.)

Also on Saturday, Quimbo on backed the government’s move to require oil companies to break down or “unbundle” their fuel prices.

“Malakas ang aming paniwala na (We are of strong belief that) this should be able to bring down the price of gas,” Quimbo said.

The DOE recently ordered oil firms to unbundle their pump prices and submit detailed breakdowns of cost components—including import costs, taxes, margins, and other charges—to the Oil Industry Management Bureau.

The agency cited as legal basis an earlier Supreme Court (SC) ruling affirming its authority to require such disclosures in the interest of public welfare and fair competition.

Quimbo said the policy would allow regulators to closely examine pricing behavior, particularly why oil firms move prices in near-identical patterns.