Senator Erwin Tulfo has renewed his push for the immediate amendment of the decades-old Oil Deregulation Law to eliminate the non-transparent pricing mechanisms currently utilized by petroleum companies.
Senate Bill No. 641, which Tulfo co-authored alongside Senator Win Gatchalian, aims to legally empower the Department of Energy (DOE) to mandate that oil firms fully disclose the breakdown of their imported fuel costs.
Delivering a privilege speech on the Senate floor, Tulfo clarified that the proposed legislation does not intend to end the free-market system or disrupt private enterprise.
“does not seek to dismantle deregulation per se, nor to interfere with legitimate business operations.”
“It aims to bolster accountability through enhanced transparency on the pricing scheme of petroleum products in the country.”
The lawmaker pointed out growing public frustration regarding volatile pump prices, especially during heightened geopolitical conflicts like the ongoing tensions in the Middle East. He raised concerns over the visible disconnect between international market shifts and local retail pricing adjustments.
“We witness consecutive price hikes in gasoline stations but Filipinos are left in the dark as to how these stations came up with the pricing.”
“When global prices drop, why are local rollbacks so minimal? Are these price adjustments truly reflective of global market trends? Or this is an artificial jacked-up prices to gain more income?”
Tulfo described the bill as a concrete mechanism to prevent arbitrary price surges while assuring the business sector that proprietary corporate data will remain protected under strict security safeguards. He framed the measure as an essential regulatory intervention to protect ordinary consumers.
“This is a step toward restoring balance—between free enterprise and public accountability, between profit and protection, and between deregulation and responsible governance.”