Metro Manila, Philippines – Oil companies would be required to disclose the pricing of petroleum products and justify any price adjustments under a bill filed by Senator Imee Marcos.
“Hindi puwedeng hulaan lang natin kung bakit ganyan kamahal ang gasolina. Karapatan ng mamimili malaman ang buong kuwenta, hanggang sa huling sentimo,” Marcos said in a statement on Tuesday, April 7.
[Translation: We cannot be left guessing why gasoline is so expensive. Consumers have the right to know the full breakdown, down to the last centavo.]
Her proposal seeks to amend the Downstream Oil Industry Deregulation Act of 1998 to require the unbundling and disclosure of all components of petroleum product prices.
These are the costs of:
- crude oil or finished petroleum products
- freight and insurance
- refining and processing
- distribution and marketing
- taxes, including excise tax and value added tax
- dealer margins
- other relevant charges
The breakdown must be displayed at retail outlets, across official websites and digital platforms of oil companies, and submitted regularly to the Department of Energy (DOE).
The bill also requires a seven-day prior notice to the DOE and the public before any pump price adjustment, along with a clear explanation of the basis for any increase.
“Kung may dagdag-singil, dapat may malinaw na basehan. Kung may pagtaas, dapat may paliwanag — hindi puro anunsyo na walang konkretong detalye,” Marcos said.
[Translation: If there are additional charges, there must be a clear basis. If prices go up, there must be an explanation – not just announcements without concrete details.]
“Hindi ito price control. Ito ay pagsasaayos sa isang sistemang matagal nang magulo at malabo. Kapag malinaw ang batayan ng pagtaas, tiyak na mababawasan ang pagkakataon ng pang-aabuso,” she added.
[Translation: This is not price control. It is about fixing a system that has long been disorganized and opaque. When the basis for price increases is clear, opportunities for abuse will be reduced.]
Calls to repeal the oil deregulation law have intensified following significant price hikes implemented by oil companies amid the Middle East crisis. President Ferdinand Marcos Jr. has placed the country under a state of national energy emergency.
