Senator Erwin Tulfo called for an urgent legislative review of the country’s decades-old oil deregulation policy on Sunday, citing the government’s inability to shield consumers from the volatile surge in global fuel prices triggered by escalating Middle East tensions.
Tulfo pointed out that the existing legal framework effectively strips the state of its power to intervene in domestic pump pricing, leaving the public at the mercy of international market forces.
“Hindi pwedeng kontrolin o diktahan ng gobyerno ang presyo ng langis dahil protektado ito ilalim ng Oil Deregulation Law,” he explained in a formal statement.
The senator lamented that under the current system, the executive branch lacks the necessary leverage to mitigate the impact of global price spikes on ordinary Filipinos.
“Ang masaklap pa, dahil sa batas na yan, tanging pakiusap na lang ang magagawa ng pamahalaan sa mga kumpanya ng langis kapag tumaas ang presyo nito sa pandaigdigang merkado,” Tulfo added.
To address these limitations, Tulfo has teamed up with Senator Win Gatchalian to co-author a measure aimed at amending Republic Act No. 8479.
The proposed legislation seeks to enforce stricter transparency within the local oil industry, requiring companies to disclose their actual acquisition costs and profit margins.
“Gusto namin ni Sen. Win na makita kung magkano ang bili talaga ng mga oil company ng pertrolyo sa abroad, magkano ang gastos nila at magkano ang tubo nila sa bawat litro,” Tulfo said.
The move comes amid widespread public suspicion regarding potential overpricing at the pumps.
Tulfo emphasized that the government must have the tools to verify if the costs passed on to motorists are fair and justified.
“Pakiramdam nating lahat overpriced ang presyo ng ating petrolyo sa mga gasolinahan natin kaya napapanahon na may batas tayo para ilahad nila magkano ang kinilita ng mga oil companies na ito sa bawat litro ng gasolina o diesel na ibinibenta nila sa atin,” he concluded.