Mamamayang Liberal Party-list Representative Leila de Lima has filed a measure seeking to grant the government, through the Department of Energy (DOE), authority to temporarily take over oil industry operations during a national crisis.
House Bill 8824, which aims to amend Republic Act 8479 or the Downstream Oil Industry Deregulation Act of 1998, also strengthens the Philippine Competition Commission (PCC) to dismantle cartels and prevent price manipulation in the petroleum sector.
“Napapanahon nang repasuhin ang oil deregulation law nang hindi maging inutil ang gobyerno sa mga panahong pabigat nang pabigat ang kalbaryo ng mga Pilipino sa napakamahal na presyo ng krudo,” De Lima said.
Under the proposal, the DOE would retain monitoring and operational authority, with added power to temporarily direct or take over industry operations during emergencies.
The bill also removes the need for Congress to pass separate legislation to suspend excise tax or VAT on petroleum products during similar crises, embedding such authority in the new law.
De Lima further called for the revival of the Oil Price Stabilization Fund (OPSF) to cushion consumers from abrupt global price hikes.
“In the face of extraordinary global oil volatility, the State cannot sit idly by while the Filipino people bear the full and immediate burden of surging fuel prices. The State must be able to act decisively, lawfully, and accountably to secure fair competition, protect consumers, and preserve economic stability,” she stressed.
The bill also proposes abolishing the DOE-DOJ Task Force, transferring its investigative powers on unreasonable fuel price increases to the PCC.