Senate President Pro Tempore Panfilo Lacson on Tuesday expressed support for the executive branch’s plan to cap fuel price adjustments following President Ferdinand Marcos Jr.’s declaration of a state of national energy emergency.
Lacson said the Department of Energy’s (DOE) proposal to impose mandatory minimum rollbacks and maximum price ceilings is an important safeguard for consumers against global oil market volatility.
“Dapat lang gamitin ng pamahalaan ang pagdeklara ng state of national energy emergency,” Lacson told reporters.
He added that government-reviewed fuel price computations would be more beneficial than leaving pricing entirely to market forces, provided the formulas remain reasonable.
“As long as reasonable ang gagawing computation ng DOE sa pag adjust ng presyo… mas makakabuti sa mas nakakaraming Pilipino ang ganitong patakaran o polisiya kesa naman ipaubaya sa oil companies ang pagtatalaga ng presyo,” he explained.
Energy Secretary Sharon Garin earlier announced that oil companies will be required to comply with government-set price limits during the emergency period.
Lacson noted that state intervention has legal basis under Republic Act No. 8479 or the Downstream Oil Industry Deregulation Act, which allows government action in cases of crisis or unreasonable price movements.