PRESS RELEASE
Former Bayan Muna Congressman Carlos Isagani Zarate today demanded immediate implementation of clear guidelines for oil price unbundling.
“It’s already March 2025 , as oil companies announce another round of price increase the unbundling of oil prices is yet to be seen,”
The estimated oil price hike for this week is as follows: Gasoline – P1.00-P1.20/liter, Diesel P0.30-P0.50/liter and Kerosene at P0.20-P0.40/liter.
“The price of fuel in gas stations consists of international price, local cost, and net profit. Oil companies do not unbundle and divulge the details of their local cost, making it difficult for the public to see their overcharges in price per liter here. Congress should fast track House Bill 3004 so that consumers would finally see the oil pricing processes,” Zarate emphasized.
He pointed out the double standard in price transparency requirements: “Matagal na nag-unbundle ang Meralco pero ang presyo ng krudo hindi unbundled, kaya madali lang mag-overcharge pag tumaas ang international price.”
The progressive solon criticized the Department of Energy’s passive stance on oil price regulation. “Ang dami ng nakaraang pagtaas ng presyo ng langis pero naiwan na ang aksyon ng gobyerno laban dito. The DOE appears to be acting more like spokespersons of oil companies rather than regulators protecting public interest.”
Zarate highlighted that under Section 15(a) of RA 8479, the DOE has the authority to investigate oil industry practices. “For more than 20 years after the oil deregulation law, the government does not know the actual cost of fuel and is therefore not capable of determining predatory pricing or overpricing. This is the tragic folly of deregulation.”
“Nobody knows what PHP60.00 per liter consists of and how much profit is imposed. The oil companies must inform DOE and the public of their actual costs – from refining, storage, transportation, to operating expenses. Transparency is crucial, especially now when every centavo counts in the shrinking budget of consumers,” he said
“Sa nangyayari ngayon malinaw na failure ang oil deregulation law at matagal na dapat itong binasura. Dapat na ding ibalik sa regulatory regime ang oil industry,” Zarate concluded. ###