With diesel projected to hit P170 per liter and gasoline climbing to P120 per liter this week, concerns are mounting over the immediate impact on transport, logistics, and everyday expenses.
Senator Bam Aquino is calling for decisive government action to prevent the spiraling cost of fuel from further straining households and businesses.
In response to the growing oil supply crisis triggered by tensions in the Middle East, Aquino filed Senate Bill No. 2011, also known as the Fuel Price Control Act.
The measure seeks to classify gasoline, diesel, and other petroleum products as “basic necessities,” allowing the government to impose price controls during national emergencies.
Under the current Price Act (Republic Act No. 7581), only essential goods such as rice, canned sardines, and liquefied petroleum gas (LPG) are subject to price freezes during calamities.
Diesel and gasoline, despite their crucial role in transport and food distribution, remain unprotected.
Aquino noted that reclassifying fuel as a basic necessity would make it eligible for mandatory price caps.
The bill also proposes extending the duration of a price freeze from 15 days to 30 days, ensuring stability during prolonged disruptions to the global supply chain.
The freeze would take effect immediately upon a state of calamity or national emergency, as specified in the Executive Order.
“We better prepare ahead… Securing supply is the number one job of the Department of Energy,” he said.
” But we must also support the workers who are directly affected and make sure our food prices don’t shoot up. The last time gasoline went up, food prices followed,” Aquino added.
The senator emphasized that the powers granted by the bill are intended only for extreme situations, warning against arbitrary use.
“You cannot declare an emergency if there is none… but when the emergency is real, and transportation and other sectors are affected, the government must have full authority to act,” he said.
In addition to the price freeze, Aquino is pushing for the suspension of value-added tax (VAT) and excise taxes on fuel.
Analysts estimate that this could reduce pump prices by nearly P20 per liter, providing immediate relief to drivers, farmers, and commuters.
The proposed legislation reflects growing concern over the Philippines’ vulnerability to international fuel market fluctuations.
Rising prices not only affect transportation but can also trigger inflation in food and essential goods, putting additional pressure on consumers already coping with economic strain.
By establishing legal safeguards to stabilize fuel costs during emergencies, Aquino’s bill aims to give both households and businesses a predictable framework in which the government can respond promptly to volatile energy markets.
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