Marikina City 2nd District Representative Miro Quimbo announced that oil industry players will be summoned to explain allegations of cartel-like behavior, which lawmakers suspect may be contributing to rising fuel prices in the domestic market.
Quimbo, who chairs the Legislative Energy Action Development (LEAD) Council—a body composed of 13 House committees—said the move is part of ongoing congressional efforts to address energy concerns and price instability.
“Oo. Yes, yes, definitely. Tatanungin natin sila diyan,” he said.
He emphasized that suspicions of coordination among oil companies must be examined thoroughly, noting that consumers are burdened by simultaneous and similarly sized price increases. Major industry players will be formally summoned to explain the pattern of fuel price movements.
The LEAD Council, created under Speaker Faustino Dy III, is set to resume its inquiry next week with the goal of drafting policy recommendations and possible legislation to help the country withstand future energy shocks.
Quimbo pointed out that the sector is dominated by only a few large companies.
“Kukonti lang talaga ang players, maraming players, pero karamihan diyan mga maliliit. ‘Yung big players natin diyan tatatlo lang talaga and they’re the ones dominating it,” he explained.
While stopping short of making definitive accusations, Quimbo said indicators suggest possible coordinated behavior.
“Hindi pa ako handang sabihin ‘yan, pero ang sinasabi natin, ‘yung resulta tila ganun. Lahat ng indikasyon at lahat ng pagkilos at ‘yung kawalan natin ng resulta sa lahat ng imbestigasyon, nagpapakita na tila meron,” he added.
Economic Planning Secretary Arsenio Balisacan has also acknowledged the possibility of cartel activity, citing the limited number of dominant players in the oil industry.
Quimbo confirmed that oil companies will be required to attend the next hearing and respond to lawmakers’ questions regarding pricing behavior.