DESPITE the deregulation of the oil industry, the Department of Energy (DOE) and the Department of Justice (DOJ) retain sufficient authority to investigate and act against unreasonable increases in petroleum prices, House Minority Leader and 4Ps Party-list Rep. Marcelino “Nonoy” Libanan said on Sunday.
“Under the Downstream Oil Industry Deregulation Law of 1998, a DOE–DOJ Task Force was established with specific investigative and enforcement powers to address excessive and unjustified increases in petroleum product prices,” Libanan said.
“Through this task force, the two departments must take decisive and forceful action to safeguard consumers against potential pricing abuses, considering that we are now under a state of national energy emergency,” he added.
Libanan stressed that protecting consumers should remain a top priority amid highly volatile global oil markets.
“Consumer protection must be paramount. Filipino families should not be made to bear the burden of unjustified fuel price increases, especially when global oil prices are already easing,” Libanan said.
The ongoing U.S.-Israel-Iran conflict, which began in late February, triggered a sharp surge in global oil prices, although recent ceasefire signals have introduced significant volatility.
After peaking at nearly $120 per barrel in March following the effective closure of the Strait of Hormuz, oil prices have since declined to around $90 per barrel as of April 17.
Meanwhile, local oil industry players have faced mounting criticism over alleged overpricing, profiteering, and possible collusion to keep prices elevated.
Libanan, a lawyer by profession, pointed out that under Republic Act No. 8479, the DOE-DOJ Task Force functions as an investigative and quasi-enforcement body that:
· Conducts investigations into potential overpricing on its own initiative
· Receives and evaluates complaints on oil pricing and possible collusion
· Recommends or initiates legal action
· Supports enforcement
Section 14 (d) of the law reads as follows: “Any report from any person of an unreasonable rise in the prices of petroleum products shall be immediately acted upon. For this purpose, the creation of the DOE-DOJ Task Force is hereby mandated to determine within 30 days the merits of the report and initiate the necessary actions warranted under the circumstance; provided, that nothing herein shall prevent the said task force from investigating and/or filing the necessary complaint with the proper court or agency motu proprio.”
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