House Minority Leader Marcelino Libanan, 4Ps Party-list representative, said the government retains the authority to go after unreasonable increases in petroleum prices despite the deregulated oil industry.
Libanan said the Department of Energy and Department of Justice can still investigate and take action through a joint task force created under existing law.
“Under the Downstream Oil Industry Deregulation Law of 1998, a DOE–DOJ Task Force was established with specific investigative and enforcement powers to address excessive and unjustified increases in petroleum product prices,” Libanan said.
“Through this task force, the two departments must take decisive and forceful action to safeguard consumers against potential pricing abuses, considering that we are now under a state of national energy emergency,” he added.
Libanan stressed that consumer protection should remain a priority amid volatile global oil prices.
“Consumer protection must be paramount. Filipino families should not be made to bear the burden of unjustified fuel price increases, especially when global oil prices are already easing,” he said.
The lawmaker cited Downstream Oil Industry Deregulation Act of 1998, which mandates the creation of a DOE-DOJ task force with authority to investigate possible overpricing, receive complaints, and recommend or initiate legal action.
He noted that under the law, reports of unreasonable price increases must be acted upon immediately, with the task force given up to 30 days to assess and pursue necessary action.
Libanan’s remarks come as oil prices remain volatile due to global developments, including tensions in the Middle East, while local industry players face criticism over alleged overpricing and possible collusion.