Villar urges action as prices soar

As domestic fuel prices continue to hit record highs — diesel up P17-P24 per liter and gasoline rising P7-P13 per liter — Senator Mark Villar has called for urgent government action to ease the burden on Filipino families, farmers, fisherfolk and transport workers.

“We know the continued rise in fuel and crude oil prices hits the budgets of our fellow Filipinos hard. It is crucial to study what additional measures the government can take to ease this burden, especially for agriculture and transportation,” Villar said.

The senator cited the warnings by Energy Secretary Sharon Garin and the Bangko Sentral ng Pilipinas of escalating global crude prices that would push up inflation and increase the cost of transportation, electricity and basic goods.”

“We are all affected, which is why we support policies or programs that protect the welfare of our people,” Villar said, pledging to back initiatives that will stabilize fuel prices and strengthen the country’s energy security.

Meanwhile, Senator Loren Legarda has filed Senate Bill 1842, or the Fuel Price Relief Act, proposing a Fuel Tax Stabilization Mechanism.

The bill would allow the President, in consultation with the Department of Energy (DoE) and based on recommendations by the Development Budget Coordination Committee, to suspend or reduce both the excise and value-added taxes on gasoline, diesel, kerosene and LPG. The relief can last up to 90 days, extendable for another 90 days if conditions persist, and would automatically end once crude prices fall below the threshold for 30 consecutive days.

“This measure is a moral imperative. We cannot allow Filipino families, farmers, fisherfolk and public utility drivers to bear the heaviest burden of global crises,” Legarda said.

The bill also emphasizes transparency and accountability, requiring monthly reports to Congress and online updates on global oil prices and revenue impacts. A biennial review of the US$80 threshold is mandated, with adjustments capped at 10 percent after consultations with stakeholders from transport, agriculture, and industry.

It also tackles market abuse, prohibiting hoarding, profiteering, cartelization, and other manipulations, with enforcement coordinated by the DoE, Department of Trade and Industry, Bureau of Customs, and the Philippine Competition Commission. Violators will face administrative, civil and criminal penalties.