Joselito Malig

Article (news)

Agatha Gregorio

ABS-CBN News

Citing figures from energy market monitor Global Petrol Prices, ACT Teachers party-list Representative questioned the Department of Energy (DOE) over the 71.6 percent gasoline price surge in the Philippines, the second highest among countries that have raised gas prices.Tinio said the country is the top three in the world in terms of diesel price increase with a 111 percent surge based on data from February 23 to March 30.“Top two pinakamahal na gas sa buong mundo in terms of rate of increase– 71.6. And top 3 na pinakamahal sa buong mundo o pinakamalaking pagtaas in terms of diesel sa buong mundo po… Pinakamataas po sa gasolina, ‘yung rate ng increase in the past month during this crisis, Myanmar, tapos 100% ang increase. Ang Pilipinas ay more than 70, something like 77 percent... So among the countries, gasoline prices, 71.6 percent ang tinaas mula Pebrero 23 in a one month period sa panahon ng crisis. At ganoon din sa diesel… 111 percent ang rate of increase mula Feb 23,” Tinio said in a meeting under the Legislative Energy Action Development Council composed of 13 House committees meant to craft measures to respond to the impact of the Middle East or West Asia conflict.Department of Energy (DOE) Secretary Sharon Garin noted this data pertains to the percentage of increase, but not for price, itself.The structure of the country’s oil industry makes the Philippines vulnerable to events such as sharp price hikes, Garin added, citing deregulation.“How do companies derive their prices? About 94% of that price is on the cost of goods, which means not only how much the barrel is, the premium. Ang premium po dati, $5 ‘yan. Ngayon, naging $60. Freight and insurance are way, way much higher. So nag-increase na po lahat ngayon… So why are we highest in responding? I think it&#x27;s our oil structure also of our industry. Kasi fully liberalized siya eh. And we don&#x27;t have any buffers. We tax it– we don&#x27;t have any buffers,” Garin said.“As in to price control, wala na tayong Oil Stabilization Fund, unlike the other countries that are less vulnerable. Mayroon silang subsidy on their pump price, and they have their own source of oil. And also they have their own bigger refineries. We only have one as of today,” Garin added.<div> </div><div>‘CARTEL-LIKE’ PRICING CONCERNS </div>The LEAD Council will invite oil industry players to its next hearing to address concerns over “cartel-like” behavior related to fuel prices, House Committee on Ways and Means Chairperson Miro Quimbo said. Quimbo added, they will ask why prices move nearly exactly the same in a deregulated market.On whether or not oil companies would be invited to meetings, Quimbo told a radio interview, “Yes, yes, definitely. Tatanungin natin sila diyan.”“Kokonti 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,” Quimbo added.Initial findings by the council point to how a weekly pricing system for oil may be encouraging “cartelization” with a few big players controlling prices amid the crisis in West Asia.

Citing energy market monitor Global Petrol Prices, ACT Teachers party-list Representative Antonio Tinio said the Philippines saw a 71.6 percent gasoline price surge, making it the second highest among countries that have increased gas prices.

Citing energy market monitor Global Petrol Prices, ACT Teachers party-list Representative Antonio Tinio said the Philippines saw a 71.6 percent gasoline price surge, making it the second highest among countries that have increased gas prices.

Tinio flags 71.6% gas price surge in PH, among greatest globally

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Tinio flags 71.6% gas price surge in PH, among greatest globally

Agatha Gregorio,

ABS-CBN News

Published April 10, 2026 09:39 PM PHT

Read More:

Oil prices

fuel

Middle East

House of Representatives

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