Chalssea Kate Echegoyen

Motorists queue for fuel at a gas station in Pasig City on October 10, 2022, a day before a new round of oil price hike takes effect. Diesel prices is forecast to increase by P6 to P6.85 per liter, gasoline prices at P1.20 to P1.40 per liter, and kerosene prices by P3.50 to P3.70 per liter. Mark Demayo, ABS-CBN News

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FUEL PRICE HIKE

ABS-CBN News

MANILA — The three-seat Makabayan bloc on Wednesday filed House Bill No. 8765 seeking to classify gasoline and diesel as prime commodities and allow the government to impose price ceilings as the war that the US and Israel began in the Middle East raises fuel prices worldwide.In a statement, ACT Teachers Rep. Antonio Tinio, Gabriela Women’s Party Rep. Sarah Elago, and Kabataan Rep. Renee Louise Co, said the measure aims to address “unchecked” oil price increases affecting basic goods and services. “Price spikes have been left largely unchecked and monopoly oil firms have been allowed to dictate the people’s cost of living,” the statement read. The Philippines deregulated the oil industry in the late 1990s and has relied on competition to keep prices stable. The Department of Energy monitors price movements.“Malinaw ang krisis sa presyo ng langis at hindi dapat pinababayaan ang kartel na maghari-harian,” the statement added. (It is clear that oil prices should not be left to the dictates of the cartels)<div><a href="https://www.abs-cbn.com/news/business/2026/3/24/more-than-240-000-puv-drivers-to-receive-fuel-subsidy-0958">Gov&#x27;t rolls out fuel subsidy for PUV drivers</a></div>The proposed bill seeks to amend the Price Act to expand the list of prime commodities to include petroleum products, which would allow authorities to impose temporary price ceilings during calamities, emergencies, and instances of alleged price manipulation.On Tuesday, President Ferdinand Marcos Jr. declared year-long a state of national emergency because of rising fuel prices.On the same day, oil prices increased by around 16 percent, with prices up to P134.30 per liter at some pumps, the highest in the country’s history. <div><a href="https://www.abs-cbn.com/news/nation/2026/3/24/marcos-declares-state-of-national-energy-emergency-1927">Marcos declares state of national energy emergency</a></div>The government, through the Land Transportation Franchising and Regulatory Board (LTFRB), started distributing fuel subsidies to public utility vehicle (PUV) operators on Tuesday, covering 62,659 operators and 18,860 units for its initial batch. A total of P460 million was released on the first day out of the P2.5-billion fuel subsidy budget.<div><a href="https://www.abs-cbn.com/news/nation/2026/3/18/da-wants-price-cap-on-imported-rice-0937">Price cap eyed on imported rice; P2 price hike on commodities possible</a></div>The Makabayan lawmakers asserted that oil companies are taking advantage of global oil price spikes to get &quot;excessive&quot; profit and said government measures have so far been limited to &quot;token&quot; subsidies and short-term aid. They said their bill is intended to curb overpricing and ease the ripple effects of fuel increases on essential goods and public transport.However, the group emphasized that the bill is also only a short-term intervention and called for broader reforms in the oil industry, including stronger regulation and changes to the current deregulation framework.

Members of the Makabayan bloc on Wednesday filed House Bill No. 8765 seeking to classify gasoline and diesel as prime commodities and allow the government to impose price ceilings amid rising fuel costs.

Members of the Makabayan bloc on Wednesday filed House Bill No. 8765 seeking to classify gasoline and diesel as prime commodities and allow the government to impose price ceilings amid rising fuel costs.

Makabayan bloc seeks to declare fuel a prime commodity, impose price ceilings

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Makabayan bloc seeks to declare fuel a prime commodity, impose price ceilings

Chalssea Kate Echegoyen,

ABS-CBN News

Published March 25, 2026 01:03 PM PHT

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Price ceiling

Fare hike

Makayaban bloc

fuel

commodity

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