The Department of Energy (DOE) confirmed it has no authority to control fuel pump prices in the Philippines. Officials clarified this during a House Committee on Ways and Means briefing.
At the same time, projections show diesel prices could increase sharply in the coming days. The development comes as conflict in the Middle East continues to disrupt global oil markets. The Philippines relies heavily on imported fuel from this region.
The DOE released a daily fuel price adjustment table covering March 10 to March 16. The table indicates diesel prices could rise by up to ₱23.24 per liter. Gasoline prices may increase by up to ₱13 per liter within the same period. The projections reflect movements in international oil prices.
During the hearing, lawmakers also discussed the country’s existing fuel supply. President Ferdinand Marcos Jr. earlier said the Philippines holds enough fuel stock for about 50 days under normal consumption. This supply refers to fuel already available in the country through existing inventories and shipments.
Representative Miro Quimbo asked whether the DOE could require oil companies to consider the cost of earlier fuel purchases when adjusting pump prices. Some fuel shipments entered the country weeks earlier, before the latest increase in global oil prices. DOE Oil Industry Management Bureau Director Rino Abad responded that the agency does not have that authority.
Abad explained that the Oil Deregulation Law governs fuel pricing in the Philippines. The law allows oil companies to set pump prices based on prevailing international market conditions. Because of this framework, the DOE cannot impose price limits or require companies to adjust prices according to when fuel was purchased.
Lawmakers also asked whether the DOE could require companies to reduce pump prices if global crude prices decline.
Abad again confirmed the agency lacks that authority under existing law. Oil industry players generally adjust prices based on market movements.
