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A gasoline pump attendant adjusts a price board at a gas station in Paco, Manila on April 7, 2026, after the implementation of another round of fuel price hikes. Oil companies raised gasoline prices by as much as P5.90 per liter and diesel by up to P19.80 per liter.
The STAR / Edd Gumban
MANILA, Philippines — Economic Planning Secretary Arsenio Balisacan’s remarks on “seemingly excessive” oil industry margins during the current price shock have inspired a push in the House of Representatives to investigate possible anti-competitive practices.
House Senior Deputy Minority Leader Leila de Lima said she supports Balisacan’s call to examine whether oil companies may be engaging in cartel-like behavior, urging regulators to act.
"Hindi pwedeng tatanggapin lang natin ang ganitong nakakalula at nakapagdududang pagtaas sa presyo ng langis,” De Lima said in a statement Saturday, April 11. (We can't just accept this shocking and suspicious rice in the price of oil.)
Balisacan, speaking at a House hearing on April 8, said regulators have the authority to look into possible anti-competitive practices in the industry.
“I haven’t looked at the market since then, but I think that given the excessive, seemingly excessive margins during this crisis, I think it’s worth looking into closely,” he said.
He added that both the Energy Regulatory Commission and Philippine Competition Commission have powers to investigate such practices and called for better coordination between the agencies.
“I think the issue here is that the oil regulators are not exercising their powers to make sure that market players are being fair in the way they play their game in the market,” Balisacan also said.
House probe filed
Following the remarks, De Lima filed House Resolution 914, directing the House Committee on Energy to conduct an inquiry into the sharp rise in diesel prices and possible market abuse.
The resolution seeks to determine why the Philippines has been among the worst affected by the global oil shock and whether existing laws remain adequate to protect consumers.
It also calls for an examination of whether pricing practices reflect fair competition or indicate profiteering, price gouging, or collusion, as well as whether current regulatory powers are sufficient to address unreasonable price movements.
During the same hearing, De Lima questioned whether the government has mechanisms to detect overpricing and profiteering during price surges.
She cited Energy Secretary Sharon Garin who was quoted as saying that she does not think there is overpricing.
“That is a bit hard to believe, especially seen from the presentation of Cong. [Antonio] Tinio... that domestic pump prices do not increase proportionately to global benchmarks, our domestic pump prices rise faster than global benchmarks,” she said in mixed Filipino and English.
“We are in a situation where consumers are paying today's high prices for yesterday's cheaper fuel. It is a disservice if the government has no clear mechanism to ensure fairness,” she said.
Deregulation policy under review. De Lima said the current oil deregulation framework may need to be revisited, especially during periods of global volatility.
“What’s happening now with this crisis, we are realizing that our current oil deregulation policy is not an ideal policy. That’s why there’s a need to review the Oil Deregulation Law and conduct an urgent investigation into the possible market abuse in determining the fuel prices,” she said.
The lawmaker earlier filed House Bill 8824 seeking to amend the Oil Deregulation Law by strengthening monitoring mechanisms and competition safeguards while preserving market openness.
The Senate similarly called for an investigation into possible collusion and abuse.
