The Department of Energy (DOE) has formally requested the Philippine Competition Commission to investigate possible anti-competitive practices among oil companies following a pattern of weekly fuel price increases.
Energy Secretary Sharon Garin said the agency is prepared to submit relevant data to support the inquiry, as concerns grow over the uniformity of recent price adjustments.
“I think the issue is whether they are talking among themselves about the oil price hikes. That is a behavior that should be investigated,” Garin said in a recent press briefing in Malacañang.
“We have already spoken to the PCC to check if there is indeed anti-competitive behavior among them,” she added.
Fuel companies in the Philippines typically announce price adjustments every Tuesday. Garin lamented such a system designed to spread out increases and avoid steep monthly spikes.
However, Garin noted that recent trends have raised eyebrows not only are announcements made simultaneously, but the magnitude of increases has also appeared identical across different firms.
“As observed in Congress, it seems they move together—not only in timing but also in how much they increase,” she added.
Garin said the DOE is open to revisiting the current pricing system and welcomes legislative guidance to improve market transparency and fairness.
“I think it’s time to revisit this, and we welcome any review of the system so we can improve it. We also need guidance from legislators on possible laws that could help strengthen the system,” she said.
Calls for an investigation have also come from lawmakers.
Marikina Representative Miro Quimbo, who chairs the House Committee on Ways and Means, urged both the PCC and the Energy Regulatory Commission to look into potential collusion among oil companies.
The push for scrutiny intensified after Arsenio Balisacan, head of the Department of Economy, Planning and Development, expressed concern that regulators may not be fully exercising their authority to ensure fair market behavior.